09.12.21-Thursday, 8.34 am

Good Morning Members

What has happened yestereday? Nifty Index, as expected and written, opened on a positive note at 17315.25 our expected opening band i.e.,17250-17320 on opening move, the Index moved down, made a day low 17308.95 thereafter, the Index moved up, made a day high 17484.60 and closed at 17469.75, on a positive note with an intra gain 293.05 points, i.e., 1.71%.

What will happen today? 

Nifty Index: Today, the Nifty Index may open on a positive note near 17490-17535 if open, trade and sustain above 17535 then, the Index may try to re-test 17555-17580-17600-17615-17665-17695 levels. On the other hand, the immediate support lies at 17455-17420, if the Index moves below 17420 then, it may re-visit 17375-17335-17285-17250-17200-17160-17145 levels.

Special Mention: Yesterday, the Nifty Index continued the pull back rally, tested till our threshold resistance level i.e., 17484.60 and closed well above 17420; today, the Index must surpass 17490-17535, if moves and sustains above 17535 then, it may re-test 17570-17600-17675-17800 levels very soon. On the other hand if, the Index fails to move above 17535-17570, any weakness below 17420 then, the index may try to re-visit once again till 17345-17220-17160-16900 levels in the near term. Let see, how the Index opens today at 17490-17535 levels, the Intra volatility may be in a high note due to today's weekly opton expiry and tomorrow's week-end factor, trade with due caution and avoid aggressive short position, is my advise at this juncture. 

Nifty Bank Index: Nifty Bank index yesrterday, opened at 37052.75, on the opening move, it made a day low 36905.15 thereafter, it moved up, made a day high 37384.80 and closed 37284.70 with an intra gain 666.30, i.e,,1.82%, today the Nifty Bank Index must move 37385-37420-37510, if to do so, then it may try to re-test 37700-37810-37890-38200-38240 levels. On the other hand, the any weakness near 37420-37385 and moves below 37285 then, the Index may be dragged to re-visit 36850-36670-36520-36355-36200-36020 levels.

Trading Strategy: The members/followers/readers, those who bought near 17000-16800 levels, start book profit partially at 17550-17670 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.