20.12.21-Monday, 8.34 am

Good Morning Members

What has happened on Friday? Nifty Index, as expected and written, opened on a flat note at 17276, our expected opening band i.e.,17250-17290 on opening move, the Index made a day high 17298.15 thereafter, the Index moved down throughout the day, made a day low 16966.45 and closed at 16985.20, on a negative note with an intra loss -263.20 points, i.e., -1.53%.

What will happen today? 

Nifty Index: Today, the Nifty Index may open on a negative note near 16940-16910 if open, trade and sustain below 16910 then, the Index may try to re-visit 16890-16875-16840-18415-16785-16735-16690 levels. On the other hand, the immediate resistance seen at  16985-17025 if the Index moves above 17025 then, it may re-test 17075-17095-17125-17150-17195-17225-17260-17295 levels.

Special Mention: On Friday, the Nifty Index unable to sustain above the threshold resistance levels i.e., 17290, though it started the move with a positive note, the weakness dragged the Index till 16966.45 and closed well below 17k; today, the Index may try to take support near 16940-16890, further if it moves above 16985-17050 then, the it may re-test 17150-17225-17295-17360-17440 levels, further move above 17440, then the rally may continue till 17550-17640 in the near term. On the other hand if, the Index moves below 16940-16890 then, the index may try to re-visit once again till  16880-16785-16690 levels very soon. Let see, how the Index opens today at 16940-16910 levels. 

Nifty Bank Index: Nifty Bank index on Friday, opened at 36491.80, on the opening move, it made a day high 36550.75 thereafter, it moved down throughout the day, made a day low 35355.05 and closed on a negative note at 35618.65 with an intra loss -1013.60, i.e,,-2.77%, today the Nifty Bank Index must move above 35535-35620, if to do so, then it may try to re-test 36310-36550-36670-36800-36960 levels. On the other hand, any weakness near 35535-35330 and moves below 35535 then, the Index may be dragged to re-visit 35260-35150-34980-34800 levels.

Trading Strategy: The members/followers/readers, those who booked profit near 17600 try to invest in a partial manner near 16900-16700 and wait for further buy till 16550-16300 for a 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.