14.12.21-Tuesday, 8.43 am

Good Morning Members

What has happened on yesterday? Nifty Index, as expected and written, opened on a positive note at 17619.10, our expected opening band i.e.,17570-17610 on opening move, the Index made a day high 17639.50 thereafter, the Index moved down throughout the day, made a day low 17355.95 and closed at 17368.25, on a negative note with an intra loss -143.05 points, i.e., -0.82%.

What will happen today? 

Nifty Index: Today, the Nifty Index may open on a flat to negative note near 17370-17350-17305 if open, trade and sustain above 17370 then, the Index may try to re-test 17425-17450-17490-17525-17560-17590-17610-17640-17675 levels. On the other hand, the immediate support lies at 17305-17255, if the Index moves below 17255 then, it may re-visit 17220-17205-17180-17160-17140-17125-17100-17065-17030 levels.

Special Mention: Yesterday, the Nifty Index though it moved near our threshold resistance zone i.e., 17610-17650, made a high 17639.50, but unable to sustain above 17610, dragged once again till 17355 and closed very well below 17490; today, the Index may try to take support near 17305-17250, further if it moves above 17400-17490 then, it may try to re-test once again 17600-17650 levels, further move above 17650, then the pull back may continue till 17800-17960 in the near term. On the other hand if, the Index fails to move above 17400-17490, any weakness below 17355-17305 then, the index may try to re-visit once again till 17260-17210-17160-17110 levels very soon. Let see, how the Index opens today at 17370-17355-17305 levels, the Intra volatility may be in a high note this week due to global cues such as US FED meet. 

Nifty Bank Index: Nifty Bank index yesterday, opened at 37358.20, on the opening move, it made a day high 37581.05 thereafter, it moved down throughout the day, made a day low 36861.90 and closed with a negative note 36925.25 with an intra loss -180.40, i.e,,-0.49%, today the Nifty Bank Index must move above 37030-37085, if to do so, then it may try to re-test 37220-37300-37370-37430-37500-37580-37660-37770-37820 levels. On the other hand, any weakness near 38680-36750 and moves below 36750 then, the Index may be dragged to re-visit 36640-36530-36420-36280-36140-36030 levels.

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