10.12.21-Friday, 8.34 am

Good Morning Members

What has happened yestereday? Nifty Index, as expected and written, opened on a positive note at 17524.40, our expected opening band i.e.,17490-17535 on opening move, the Index made a day high 17543.25 thereafter, the Index moved down, made a day low 17379.60; the intra pull back lifted the Index near day high  and closed at 17516.85, on a positive note with an intra gain 47.10 points, i.e., 0.27%.

What will happen today? 

Nifty Index: Today, the Nifty Index may open on a flat to positive note near 17510-17545 if open, trade and sustain above 17545 then, the Index may try to re-test 17585-17600-17615-17660-17695-17725 levels. On the other hand, the immediate support lies at 17490-17450, if the Index moves below 17450 then, it may re-visit 17418-17380-17335-17290-17255-17220-17160-17140 levels.

Special Mention: Yesterday, the Nifty Index continued the pull back rally, tested next level resistance level i.e., 17535, made a high 17543.25 and closed well above 17490; today, the Index must surpass 17545-17585, if moves and sustains above 17585 then, it may re-test 17600-17675-17800 levels very soon. On the other hand if, the Index fails to move above 17535-17555, any weakness below 17445 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 17510-17545 levels, the Intra volatility may be in a high note due to today's week-end factor, trade with due caution and avoid aggressive short and long position, is my advise at this juncture. 

Nifty Bank Index: Nifty Bank index yesrterday, opened at 37331.75, on the opening move, it made a day high 37397.55 thereafter, it moved down, made a day low 36884.45 and closed 37082.45 with an intra loss -202.25, i.e,,-0.54%, today the Nifty Bank Index must move 37150-37240, if to do so, then it may try to re-test 37330-37400-37530-37655-37700-37810 levels. On the other hand, the any weakness near 36900 and moves below 36750 then, the Index may be dragged to re-visit 36660-36545-36350-36220-36100-36000 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.