06.12.21-Monday, 8.34 am

Good Morning Members

What has happened on Friday? Nifty Index, as expected and written, opened on flat to positive note at 17424.90, our expected opening band i.e.,17425-17450-17470 on opening move, the Index moved up, made a day high 17489.80 thereafter, the Index witnessed a sell-off throughout the day, made a day low 17180.80 and closed at 17196.70, on a negative note with an intra loss -204.95 points, i.e., -1.18%.

What will happen today? 

Nifty Index: Today, the Nifty Index may open on a flat to positive note near 17195-17220 if open, trade and sustain above 17220 then, the Index may try to re-test 17250-17295-17325-17355-17375-17398-17425-17455-17495-17555 levels. On the other hand, the immediate support lies at 17180-17160, if the Index moves below 17160 then, it may re-visit 17135-17100-17050-17000-16950-16910-16865 levels.

Special Mention: On Friday, the Nifty Index though it continued the pull back rally till 17489.80, the sell-off dragged till 17180.80 and closed well below 17250 today, the Index must take support near 17160-17050, further weakness below 17050 then, the index may try to re-visit 16950-16860-16780 levels very soon. On the other hand if, the Index move above 17250-17330 then, it may try to re-test 17495-17600-17790 levels in the near term. Let see, how the Index opens today at 17195-17220  levels, the Intra volatility may be in a high note this week, due to RBI MPC meet, trade with due caution is my advise at this juncture. 

Nifty Bank Index: Nifty Bank index on Friday, opened at 36497.30, on the opening move, it moved up, made a day high 36844 thereafter, it moved down, made a day low 36062.85 and closed 36197.15, today the Nifty Bank Index must move above 36250-36345, further up move above 36345 then, it may re-test 36390-36445-36520-36565-36595-36670-36755-36845-36995 levels. On the other hand, the any weakness near 36250-36345 and moves below 36195-36060 then, the Index may be dragged to re-visit 35910-35850-35805-35765-35670-35530-35445 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.