24.11.21-Wednesday, 8.43 am

Good Morning Members

What has happened yesterday? Nifty Index, as expected and written, opened on a negative note at 17281.75, our expected opening band i.e.,17400-17350, on opening move, the Index made a day low 17216.10 thereafter, it moved up with high volatile move, made a day high 17553.70 and closed at 17503.35 on a positive note with an intra gain 86.80 points, i.e., 0.50%.

What will happen today? 

Nifty Index: Today, the Nifty Index may open on a flat to positive note near 17510-17555 if open, trade and sustain above 17555 then, the Index may try to re-test 17580-17615-17635-17655-17680-17705-17740-17775-17805 levels. On the other hand, the immediate support lies at 17480-17465, if the Index moves below 17465 then, it may re-visit 17440-17405-17360-17335-17280-17260-17215-17155 levels.

Special Mention: Yesterday, the Nifty Index though it continued the down move beyond 17280, but it took support near our threshold support level, i.e., 17225, made a low 17216.10, further the pull back rally lifted till 17553.70 and closed well above 17450, today the Index must move above 17560-17615, further move above 17615, the pull back rally may continue till 17805-17950 in the near term. On the other hand if, the Index unable to move above 17560-17615 and moves below 17500-17450 then, the weakness may drag the Index once again to re-vist the 17280-17216, further sell-off below 17216 may drag the Index till 17105-17060-16900 levels very soon. Let see, how the Index opens today at 17510-17555 levels, the Intra volatility may be in a high note, due to tomorrow's F&O Expiry and Friday's week-end factor.

Nifty Bank Index: Nifty Bank index yesterday, opened at 36787, on the opening move, it made a day low 36647.85 thereafter, the Index moved up, made a day high 37448.75 and closed 37272.80, today the Nifty Bank Index must take support near 37260-37140, if moves above 37360-37450 then, it may re-test 37540-37660-37750-37840-37900 levels very soon. On the other hand, the any weakness near 37360-37450-37540 then, the Index may drag to re-visit 37210-37150-37030-36950-36850-36650 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.