29.11.21-Monday, 8.43 am

Good Morning Members

What has happened on Friday? Nifty Index, as expected and written, opened on a negative note with gap down at 17338.75, our expected opening band i.e.,17450-17405, on opening move, the Index made a day high 17355.40 thereafter, the Index moved down throughout the day till 16985.70 and closed at 17026.45 on a negative note with an intra huge loss -509.80 points, i.e., 2.91%.

What will happen today? 

Nifty Index: Today, the Nifty Index may open on a positive note near 17060-17120 if open, trade and sustain above 17120 then, the Index may try to re-test 17160-17195-17215-17245-17280-17315-17355-17395-17450 levels. On the other hand, the immediate support lies at 17030-16985, if the Index moves below 16985 then, it may re-visit 16945-16905-16885-16820-16765-16660 levels.

Special Mention: On Friday, the Nifty Index witnessed a major sell-off due to the Covid-19 highly infectious new variant Omicron found in South Africa and some cases are found in several countries, this new development has jitter the global stock market made last Friday as a black Friday, it dragged down the Index till 16985 and closed 17026.45, today the Index must move above 17160-17215, further move above 17215, the pull back rally may continue till 17350-17450-17600 in the near term. On the other hand if, the Index unable to move above 17160-17215 and moves below 17060-16985 then, the weakness may drag the Index to re-vist till 16900-16760-16660-16380 levels very soon. Let see, how the Index opens today at 17060-17120 levels, the Intra volatility may be in a high note this week, due to month-end factor.

Nifty Bank Index: Nifty Bank index on Friday, opened at 36830.90, on the opening move, it made a day high 36868.90 thereafter, it moved down throughout the day, made a day low 35904.10 and closed 36025.50, today the Nifty Bank Index must move above 36150-36350, further up move above 36350 then, it may re-test 36455-36635-36800-36868-37125 levels very soon. On the other hand, the any weakness below 36050-35900 then, the Index may drag to re-visit 35770-35640-35550-35445-35360 levels.

Trading Strategy: The members/followers/readers, those who booked profit near 18100-18200 levels, start invest 17000-16700 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.