08.12.21-Wednesday, 8.34 am

Good Morning Members

What has happened yestereday? Nifty Index, as expected and written, opened on a positive note at 17044.10, our expected opening band i.e.,16970-17000 on opening move, the Index moved down, made a day low 16987.15 thereafter, the Index moved up throughout the day, made a day high 17251.85 and closed at 17176.70, on a positive note with an intra gain 264.45 points, i.e., 1.56%.

What will happen today? 

Nifty Index: Today, the Nifty Index may open on a positive note near 17220-17250-17320 if open, trade and sustain above 17320 then, the Index may try to re-test 17355-17390-17420-17455-17489-17555-17600 levels. On the other hand, the immediate support lies at 17195-17160, if the Index moves below 17160 then, it may re-visit 17120-17075-17050-17015-16980-16950 levels.

Special Mention: Yesterday, the Nifty Index took support near 16987, the pull back rally lifted the Index till 17251 and closed well above 17160 today, the Index must surpass 17250-17320, if moves and sustains above 17320 then, it may re-test 17490-17600 levels very soon. On the other hand if, the Index fails to move above 17320-17355, any weakness below 17250 then, the index may try to re-visit once again till 17050-16980-16865-16780 levels in the near term. Let see, how the Index opens today at 17220-17250-17320 levels, the Intra volatility may be in a high note today, due to RBI MPC meet, trade with due caution is my advise at this juncture. 

Nifty Bank Index: Nifty Bank index yesrterday, opened at 36086.95, on the opening move, it made a day low 36013.95 thereafter, it moved up, made a day high 36820.70 and closed 36618.40 with an intra gain 882.50, i.e,,2.47%, today the Nifty Bank Index must move above 36820-36850 if to do so, then it may try to re-test 36995-37120-37220-37350-37500-37700-37890 levels. On the other hand, the any weakness near 36850-37000 and moves below 36580 then, the Index may be dragged to re-visit 36420-36330-36200-36020 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.