30.11.21-Tuesday, 8.34 am

Good Morning Members

What has happened yesterday? Nifty Index, as expected and written, opened on a positive note at 17055.80, our expected opening band i.e.,17060-17120, on opening move, the Index made a day low 16782.40 thereafter, the Index moved up throughout the day till 17160.70 and closed at 17053.95 on a positive note with an intra marginal gain 27.50 points, i.e., 0.16%.

What will happen today? 

Nifty Index: Today, the Nifty Index may open on a flat to positive note near 17075-17045 if open, trade and sustain above 17075 then, the Index may try to re-test 17095-17120-17135-17160-17190-17215-17245-17265-17290-17315-17355 levels. On the other hand, the immediate support lies at 17020-17000-16985, if the Index moves below 16985 then, it may re-visit 16970-16950-16925-16900-16875-16845-16820-16785-16765-16740-16705 levels.

Special Mention: Yesterday, the Nifty Index made a panic bottom 16782.40 and moved up till our threshold resistance levels i.e.., 17160, made a day high 17160.70 and closed 17053.95 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 17050-16970 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 17075-17050 levels, it looks the Nifty index may trade with an inside pattern i.e., not breaking the yesterday high and low levels. The Intra volatility may be in a high note this week, due to today's month-end factor.

Nifty Bank Index: Nifty Bank index yesterday, opened at 36224.45, on the opening move, it made a day low 35327.90 thereafter, it moved up throughout the day, made a day high 36347.85 and closed 35976.45, today the Nifty Bank Index must move above 36050-36140, further up move above 36140 then, it may re-test 36230-36345-36455-36550-36625 levels very soon. On the other hand, the any weakness below 35900-35840 then, the Index may drag to re-visit 35760-35660-35540-35445-35330-35300-35160 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.