16.12.21-Thursday, 8.34 am

Good Morning Members

What has happened on yesterday? Nifty Index, as expected and written, opened on a flat note at 17323.65, our expected opening band i.e.,17355-17305-17280 on opening move, the Index made a day high 17351.20 thereafter, the Index moved down, made a day low 17192.20, further the intra pull back lifted once again near day high, the volatility dragged down and closed at 17221.40, on a negative note with an intra loss -103.50 points, i.e., -0.60%.

What will happen today? 

Nifty Index: Today, the Nifty Index may open on a positive note near 17250-17305 if open, trade and sustain above 17305 then, the Index may try to re-test 17330-17350-17375-17390-17415-17450-17430-17470-17505-17540-17595 levels. On the other hand, the immediate support lies at 17220-17190, if the Index moves below 17190 then, it may re-visit 17150-17135-17125-17100-17065-17030-16980 levels.

Special Mention: Yesterday, the Nifty Index unable to move above the threshold resistance levels i.e., 17350 but, it took support near 17220-17200 and closed well below 17250; today, the Index may try to take support near 17305-17250, further if it moves above 17355-17395 then, it may try to re-test once again 17490-17590-17640 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 17355-17395, any weakness below 17305-17250 then, the index may try to re-visit once again till 17190-17070-16980-16880 levels very soon. Let see, how the Index opens today at 17250-17305 levels, the Intra volatility may be in a high note due to today's weekly option expiry and tomorrow's week-end factor. 

Nifty Bank Index: Nifty Bank index yesterday, opened at 36929.50, on the opening move, it made a day high 37083.50 thereafter, it moved down throughout the day, traded in a very narrow range and made a day low 36743.20 and closed with a negative note 36786.85 with an intra loss -107.40, i.e,,-0.29%, today the Nifty Bank Index must move above 36840-36870, if to do so, then it may try to re-test 36940-37000-37085-37175-37240-37280-37360-37460-37580 levels. On the other hand, any weakness near 36980-36870 and moves below 36790 then, the Index may be dragged to re-visit 36740-36650-36545-36420-36260-36140-36030 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.