15.12.21-Wednesday, 8.34 am

Good Morning Members

What has happened on yesterday? Nifty Index, as expected and written, opened on a negative note at 17283.20, our expected opening band i.e.,17370-17350-17305 on opening move, the Index made a day low 17225.80 thereafter, the Index moved up throughout the day, made a day high 17376.20 and closed at 17324.90, on a negative note with an intra loss -43.35 points, i.e., -0.25%.

What will happen today? 

Nifty Index: Today, the Nifty Index may open on a flat note near 17355-17305-17285 if open, trade and sustain above 17355-17385 then, the Index may try to re-test 17430-17455-17490-17520-17550-17590-17610-17640 levels. On the other hand, the immediate support lies at 17255-17220, if the Index moves below 17220 then, it may re-visit 17180-17160-17135-17125-17100-17065-17030-16980 levels.

Special Mention: Yesterday, the Nifty Index took some support near 17250-17225 levels and moved up and closed well below 17355; today, the Index may try to take support near 17305-17250-17220, further if it moves above 17355-17385 then, it may try to re-test once again 17430-17490-17520-17550-17590-17610-17640 levels, further move above 17640, then the pull back may continue till 17800-17960 in the near term. On the other hand if, the Index fails to move above 17385-17420, any weakness below 17305-17250-17220 then, the index may try to re-visit once again till 17180-17070-16980-16880-16785 levels very soon. Let see, how the Index opens today at 17355-17305-17280 levels, the Intra volatility may be in a high note due to global cues such as US FED meet and tomorrow's weekly option expiry. 

Nifty Bank Index: Nifty Bank index yesterday, opened at 36778.95, on the opening move, it made a day low 36545.40 thereafter, it moved up throughout the day, made a day high 37039.05 and closed with a negative note 36893.95 with an intra loss -31.30, i.e,,-0.08%, today the Nifty Bank Index must move above 36930-36980-37040, if to do so, then it may try to re-test 37125-37180-37230-37315-37360-37395-37460-37580-37660-37770 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.