17.12.21-Friday, 8.34 am

Good Morning Members

What has happened on yesterday? Nifty Index, as expected and written, opened on a positive note at 17373, our expected opening band i.e.,17250-17305 on opening move, the Index made a day high 17379.35 thereafter, the Index moved down, made a day low 17184.95, further the intra pull back lifted once again with a volatilite move and closed at 17248.40, on a positive noter note with an intra marginal gain 27 points, i.e., 0.16%.

What will happen today? 

Nifty Index: Today, the Nifty Index may open on a flat to positive note near 17250-17290-17320 if open, trade and sustain above 17320 then, the Index may try to re-test 17355-17380-17390-17415-17430-17460-17470-17505-17540-17590 levels. On the other hand, the immediate support lies at 17230-17190, if the Index moves below 17190 then, it may re-visit 17150-17135-17125-17100-17065-17030-16980-16930 levels.

Special Mention: Yesterday, the Nifty Index unable to sustain above the threshold resistance levels i.e., 17350, though it started the move with a gap up but, weakness dragged the Index till 17184.95 and closed near 17250; today, the Index may try to take support near 17250-17220, further if it moves above 17305-17395-17379 then, the pull back rally may lift the index, once again till 17490-17590-17640 levels, further move above 17640, then the rally may continue till 17800-17960 in the near term. On the other hand if, the Index fails to move above 17355-17379-17395, any weakness below 17250-17185 then, the index may try to re-visit once again till 17070-16980-16880 levels very soon. Let see, how the Index opens today at 17250-17290-17320 levels, the Intra volatility may be in a high note due to today's week-end factor. 

Nifty Bank Index: Nifty Bank index yesterday, opened at 37092.95, on the opening move, it made a day high 37083.50 thereafter, it moved down throughout the day, made a day low 36385.85 and closed on a negative note at 36548.65 with an intra loss -237.90, i.e,,-0.65%, today the Nifty Bank Index must move above 36680-36745, if to do so, then it may try to re-test 36860-36980-37060-37125-37175-37230-37280-37360-37395-37445 levels. On the other hand, any weakness near 36475-36385 and moves below 36385 then, the Index may be dragged to re-visit 36320-36260-36190-36060-36000-35860 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.