22.11.21-Monday, 8.34 am

Good Morning Members

What has happened on Thursday? Nifty Index, as expected and written, opened on a flat to negative note at 17890.55, our expected opening band i.e.,17880-17845, on opening move, the Index made a day high 17945.60 thereafter, it moved down throughout the day, made a day low 17688.50 and closed at 17764.80 on a negative note with an intra loss -133.85 points, i.e., -0.75%.

What will happen today? 

Nifty Index: Today, the Nifty Index may open on a flat to negative note near 17765-17735 if open, trade and sustain below 17735 then, the Index may try to re-visit 17720-17685-17650-17615-17585-17550 levels. On the other hand, the immediate resistance seen at 17785-17830, if the Index moves above 17830 then, it may re-test 17850-17885-17920-17945-17970-18015-18055 levels.

Special Mention: On Thursday, the Nifty Index continued the down move till 17688.50 and closed well below 17800, today the Index must take support 17735-17688, any weakness below 17688 then, the Index may re-visit 17650-17610-17550-17435 levels very soon. On the other hand if, the Index takes support near 17735-17688 and moves above 17830-17885 then, it may re-test 18125-18210-18340 levels in the near term. Let see, how the Index opens today at 17765-17735 levels, this week the Intra volatility may be in high note due to F&O Expiry.

Nifty Bank Index: Nifty Bank index, on Thursday opened at 38071.90, on the opening move, it made a day high 38223.95 thereafter, the Index moved down, made a day low 37748.45 and closed 37976.25, today the Nifty Bank Index must move above 38150-38235, if moves above 38235 then, the Index may try to re-test 38270-38360-38450-38600 levels very soon. On the other hand, the immediate support lies at 37980-37860 if the Index moves below 37860 then, it may re-visit 37800-37750-37660-37450-37365-37300 levels.

Trading Strategy: The members/followers/readers, those who booked profit near 18100-18200 levels, start invest in partial manner till 17700-17450 for a short to medium term perspective to gain 5-10% in Nifty top 100 stocks.

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.