03.12.21-Friday, 8.34 am

Good Morning Members

What has happened yesterday? Nifty Index, as expected and written, opened on flat to positive note at 17183.20, our expected opening band i.e.,17160-17185, on opening move, the Index moved down, made a day low 17149.30 thereafter, the Index moved up, made a day high 17420.35 and closed at 17401.65, on a positive note with an intra gain 234.75 points, i.e., 1.37%.

What will happen today? 

Nifty Index: Today, the Nifty Index may open on a positive note near 17425-17450-17470 if open, trade and sustain above 17470 then, the Index may try to re-test 17495-17510-17550-17580-17600-17615-17640-17660 levels. On the other hand, the immediate support lies at 17325-17280, if the Index moves below 17280 then, it may re-visit 17250-17220-17190-17160-17100-17050 levels.

Special Mention: Yesterday, the Nifty Index continued the pull back rally till 17420.35 and closed well above 17325 today, the Index must move above 17425-17470, further move above 17470, the pull back rally may continue to test 17600-17795-17900 levels in the near term. On the other hand if, the Index unable to move above 17470-17550 and moves below 17400-17325 then, the weakness may drag the Index to re-vist till 17220-17160-17050-16980 levels very soon. Let see, how the Index opens today at 17425-17450-17470  levels, the Intra volatility may be in a high note due to today's week-end factor.  

Nifty Bank Index: Nifty Bank index yesterday, opened at 36281.85, on the opening move, it moved down, made a day low 36166.70 thereafter, it moved up, made a day high 36563.50 and closed 36508.25, today the Nifty Bank Index must move above 36610-36655-36670, further up move above 36670 then, it may re-test 36775-36880-37000-37120-37170-37310-37450 levels. On the other hand, the any weakness near 36670-36775 then, the Index may be dragged to re-visit 36445-36350-36220-36165-36060-35930 levels.

Trading Strategy: The members/followers/readers, those who bought near 17000-16800 levels, start book profit partially at 17500-17600 and wait for further correction to invest again near 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.