23.11.21-Tuesday, 8.43 am

Good Morning Members

What has happened yesterday? Nifty Index, contrary to our expectation, opened on a positive note at 17796.25, our expected opening band i.e.,17765-17735, on opening move, the Index made a day high 17805.25 thereafter, it moved down throughout the day, made a day low 17280.45 and closed at 17416.55 on a negative note with an intra loss -348.25 points, i.e., -1.96%.

What will happen today? 

Nifty Index: Today, the Nifty Index may open on a negative note near 17400-17350 if open, trade and sustain below 17350 then, the Index may try to re-visit 17325-17280-17260-17225-17190-17150 levels. On the other hand, the immediate resistance seen at 17440-17495, if the Index moves above 17495 then, it may re-test 17540-17565-17615-17635-17695-17750 levels.

Special Mention: Yesterday, the Nifty Index continued the down move beyond our threshold support level, i.e., 17450, made a low 17280.45 and closed well below 17450, today the Index must take support 17350-17280-17250, any weakness below 17250 then, the Index may re-visit 17150-17100-17055 levels very soon. On the other hand if, the Index takes support near 17350-17280 and moves above 17445-17495 then, it may re-test 17615-17750-17860-17950 levels in the near term. Let see, how the Index opens today at 17400-17350 levels, this week the Intra volatility may be in high note due to F&O Expiry.

Nifty Bank Index: Nifty Bank index yesterday, opened at 38232.15, on the opening move, it made a day high 38241 thereafter, the Index moved down, made a day low 36655.40 and closed 37128.80, today the Nifty Bank Index must take support near 37030-36850, if moves below 36850 then, it may re-visit 36750-36655-36450-36225-36120 levels very soon. On the other hand, the immediate resistance seen at 37150-37260, if the Index moves above 37260 then, it may re-test 37355-37445-37630-37770-37900-38060 levels.

Trading Strategy: The members/followers/readers, those who booked profit near 18100-18200 levels, start invest in partial manner till 17400-17200 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.