12.11.21-Friday, 8.34 am

Good Morning Members

What has happened yesterday? Nifty Index, as expected and written, opened on a negative note at 17967.45, our expected opening band i.e.,18000-17970-17950, on opening move, the Index made a day high 17971.35 thereafter, it moved down throughout the day, made a day low 17798.20 and closed at 17873.60 on a negative note with an intra loss -143.60 points i.e., -0.80%.

What will happen today? 

Nifty Index: Today, the Nifty Index may open on a positive note near 17920-17950-17970 if open, trade and sustain above 17970 then, the Index may try to re-test 17995-18020-18045-18075-18100-18115-18145-18195 levels. On the other hand, the immediate support lies at 17895-17860, if the Index moves above 17860 then, it may re-visit 17840-17815-17795-17760-17730-17700-17670 levels.

Special Mention: Yesterday, the Nifty Index sell-off continued till 17798 and closed well above 17840, today the Index must move above 17970-18020 to continue the pull back rally, if the index moves above 18020 then, the Index re-test 18115-18195-18225-18340 levels in the near term. On the other hand if, the Index fails to move above 17970-18020-18045 trades below 17900 then, the weakness may drag the Index once again till 17840-17760-17610 levels very soon. Let see, how the Index opens today at 17920-17950-17970 levels, today we can expect intraday volatilty due to, week-end factor.

Nifty Bank Index: Nifty Bank index, yesterday opened near 38913.05, on the opening move, it made a day high 38929.95 thereafter, the Index moved down, made a day low 38346.05 and closed 38560.20, today the Nifty Bank Index must move above 38775-38930-39090 levels, if moves above 39090 then, it may try to move up and re-test till 39220-39560-39675-39760-39890-39950 levels. On the other hand, any weakness at 39090-39220 then, the Index once again re-visit 38760-38560-38420-38350-38200 levels.

Trading Strategy: The followers/readers, those who invested near 17700-17600 start book partial profit near 18115-18350 levels or the stocks you have invested gives a profit 3-6% return and stay invested till 17800-17600-17450 levels.

Also, read the Nifty Index weekly outlook, which will help the traders/investors to know about the Index weekly hurdle and support levels and I hope it will give more insight about the Nifty index, to read the weekly outlook please, visiit by using the following link: https://www.niftytech.in/marketupdate/62

For further details please do call us on 98410 48022 or contact thro' whatsapp: 99624 70636. Please read carefully, the Disclaimer published in the Disclaimer page.

Wishing you for a safe, secured and profitable trading.