13.12.21-Monday, 8.43 am

Good Morning Members

What has happened on Friday? Nifty Index, as expected and written, opened on a positive note at 17476.05, our expected opening band i.e.,17510-17545 on opening move, the Index made a day high 17534.35 thereafter, the Index moved down, made a day low 17405.25; the intra pull back lifted the Index once again till day high and closed at 17511.30, on a negative note with an intra marginal loss -5.55 points, i.e., -0.03%.

What will happen today? 

Nifty Index: Today, the Nifty Index may open on a positive note near 17570-17610 if open, trade and sustain above 17610 then, the Index may try to re-test 17650-17695-17725-17755-17790-17805 levels. On the other hand, the immediate support lies at 17545-17490, if the Index moves below 17490 then, it may re-visit 17455-17405-17365-17335-17310-17255 levels.

Special Mention: On Friday, the Nifty Index made an inside formation i.e., not breaking the previous day high or low and closed very well above 17490; today, the Index may try to test 17600-17650, if moves and sustains above 17650 then, it may re-test 17800-17905-17975-18050 levels very soon. On the other hand if, the Index fails to move above 17610-17650, any weakness below 17490 then, the index may try to re-visit once again till 17345-17220-17160 levels in the near term. Let see, how the Index opens today at 17570-17610 levels, the Intra volatility may be in a high note this week due to global cues such as US FED meet and domestic inflation data and avoid aggressive short position, is my advise at this juncture. 

Nifty Bank Index: Nifty Bank index on Friday, opened at 37083.15, on the opening move, it made a day high 37153.25 thereafter, it moved down, made a day low 36824.60, further intra pull back lifted the Index near day high and closed with positive note 37105.65 with an intra gain 23.20, i.e,,0.06%, today the Nifty Bank Index must move above 37250-37395, if to do so, then it may try to re-test 37530-37655-37700-37810-37860-37890 levels. On the other hand, any weakness near 37200-37030 and moves below 36900 then, the Index may be dragged to re-visit 36825-36745-36645-36550-36345 levels.

Trading Strategy: The members/followers/readers, those who bought near 17000-16800 levels, start book profit partially at 17600-17670-17790 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.