02.12.21-Thursday, 8.34 am

Good Morning Members

What has happened yesterday? Nifty Index, as expected and written, opened on positive note at 17104.40, our expected opening band i.e.,17080-17120, on opening move, the Index moved up, made a day high 17213.65 thereafter, the Index moved down, made a day low 17064.25, further it moved up and closed at 17166.90, on a positive note with an intra gain 183.70 points, i.e., 1.08%.

What will happen today? 

Nifty Index: Today, the Nifty Index may open on a flat to positive note near 17160-17185 if open, trade and sustain above 17185 then, the Index may try to re-test 17215-17235-17250-17290-17320-17355-17395-17428-17445-17480 levels. On the other hand, the immediate support lies at 17130-17100, if the Index moves below 17100 then, it may re-visit 17065-17030-17000-16970-16950-16930-16905-16880-16845-16825-16785 levels.

Special Mention: Yesterday, the Nifty Index made an Inside pattern i.e., not broken the previous day high or low, it infers the indecisiveness, though it moved up till 17213, once again intra sell-off dragged the index till 17064 and closed well above 17160 today, the Index must move above 17185-17215 further move above 17215, the pull back rally may continue to test 17250-17350-17450-17600 in the near term. On the other hand if, the Index unable to move above 17185-17215 and moves below 17100-17050 then, the weakness may drag the Index to re-vist till 16950-16880-16760-16660 levels very soon. Let see, how the Index opens today at 17160-17185 levels, the Intra volatility may be in a high note due to today's option weekly expiry and tomorrow's week-end factor.  

Nifty Bank Index: Nifty Bank index yesterday, opened at 35902.90, on the opening move, it moved down, made a day low 35805 thereafter, it moved up, made a day high 36445.35 and closed 36364.90, today the Nifty Bank Index must move above 36445-36535, further up move above 36535 then, it may re-test 36640-36775-36880-37000-37170 levels. On the other hand, the any weakness near 36445-36535 then, the Index may be dragged to re-visit 36350-36220-36050-35880-35770-35680-35630 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.