18.11.21-Thursday, 8.34 am

Good Morning Members

What has happened yesterday? Nifty Index, as expected and written, opened on a positive note at 17939.35, our expected opening band i.e.,17980-17955-17925, on opening move, the Index made a day high 18022.65 thereafter, it moved down, made a day low 17879.25 and closed at 17898.65 on a negative note with an intra loss -100.55 points, i.e., -0.56%.

What will happen today? 

Nifty Index: Today, the Nifty Index may open on a flat to negative note near 17880-17845 if open, trade and sustain below 17845 then, the Index may try to re-visit 17800-17755-17730-17685-17615 levels. On the other hand, the immediate resistance seen at 17940-17980, if the Index moves above 17980 then, it may re-test 18005-18025-18060-18100-18125-18150-18185-18215 levels.

Special Mention: Yesterday, the Nifty Index continued the down move till 17879.65 and closed well below 17940, today the Index must take support 17845-17800, any weakness below 17800 then, the Index may re-visit 17730-17615 levels very soon. On the other hand if, the Index takes support near 17845-17800 and moves above 17900-17940 then, it may re-test 18125-18210-18340 levels in the near term. Let see, how the Index opens today at 17880-17845 levels, the Intra volatility may be in high note due to option weekly expiry and week-end factor.

Nifty Bank Index: Nifty Bank index, yesterday opened near 38113.40, on the opening move, it made a day high 38456.30 thereafter, the Index moved down, made a day low 37981.20 and closed 38041.55, today the Nifty Bank Index must take support 37960-37850 levels, any weakness below 37850 then, the Index  may try to re-visit 37740-37650-37460-37300 levels. On the other hand, the immediate resistance seen at 38160-38350 if the Index moves above 38350 then, it may re-test 38460-38530-38640-38730 levels in the near term.

Trading Strategy: The members/followers/readers, those who invested near 17700-17600 start book profit near 18200-18350-18460 levels or the stocks you have invested gives a profit 5-10% 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.