07.12.21-Tuesday, 8.34 am

Good Morning Members

What has happened yestereday? Nifty Index, as expected and written, opened on flat to positive note at 17209.05, our expected opening band i.e.,17195-17220 on opening move, the Index moved up, made a day high 17216.75 thereafter, the Index witnessed a sell-off throughout the day, made a day low 16891.70 and closed at 16912.25, on a negative note with an intra loss -284.45 points, i.e., -1.65%.

What will happen today? 

Nifty Index: Today, the Nifty Index may open on a positive note near 16970-17000 if open, trade and sustain above 17000 then, the Index may try to re-test 17050-17095-17125-17160-17185-17215-17260-17300 levels. On the other hand, the immediate support lies at 16930-16890, if the Index moves below 16890 then, it may re-visit 16865-16810-16785-16730 levels.

Special Mention: Yesterday, the Nifty Index once again witnessed a sell-off till 16891.70 and closed well below 16930 today, the Index must take support near 16865-16800, if fails further weakness below 16800 then, the index may try to re-visit 16780-16640-16380 levels very soon. On the other hand if, the Index take support near 16800-16900 and moves above 16975 then, it may try to re-test 17160-17220-17350-17490-17600 levels in the near term. Let see, how the Index opens today at 16970-17000 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 yesrterday, opened at 36252.75, on the opening move, it moved up, made a day high 36344.55 thereafter, it moved down, made a day low 35696.75 and closed 35735.90, today the Nifty Bank Index must take support near 35690-35530, if takes support and moves above 35840-35860 then, it may try to re-test 35900-36000-36120-36200-36270-36345-36400-36460-36520 levels. On the other hand, the any weakness near 35700-35530 and moves below 35530 then, the Index may be dragged to re-visit 35440-35360-35330-35220-35070 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 16900-16700 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.