21.12.21-Tuesday, 8.34 am

Good Morning Members

What has happened yesterday? Nifty Index, as expected and written, opened on a negative note at 16824.95, our expected opening band i.e.,16940.16910 on opening move, the Index made a day high 16840.10 thereafter, the Index moved down throughout the day, made a day low 16410.20, the intra short covering lifted the Index up and closed at 16614.20, on a negative note with an intra loss -371 points, i.e., -2.18%.

What will happen today? 

Nifty Index: Today, the Nifty Index may open on a positive note with gap up near 16720-16750-16780 if open, trade and sustain above 16780 then, the Index may try to re-test 16840-16865-16890-16955-16995-17025 levels. On the other hand, the immediate support lies at 16660-16630 if the Index moves below 16630 then, it may re-visit 16575-16540-16510-16460-16410-16375-16350-16285 levels.

Special Mention: Yesterday, the Nifty Index unable to move above 16890, the sell-off dragged the Index beyond the threshold support levels i.e., 16780, made a low 16410 and closed very well below 16780; today, the Index may try to take support near 16500-16410, further if it moves above 16700-16780 then, the it may try to re-test 16890-17000-17160-17280-17380 levels in the near term. On the other hand if, the Index unable to move above 16700-16780 and moves below 16550-16500 then, the index may try to re-visit once again till 16410, further weakness below 16400, may drag the Index till 16165-16000 levels very soon. Let see, how the Index opens today at 16720-16750-16780 levels. 

Nifty Bank Index: Nifty Bank index yesterday, opened at 35124.35, on the opening move, it made a day high 35231.10 thereafter, it moved down throughout the day, made a day low 34018.45 and closed on a negative note at 34439.85 with an intra loss -1095.20, i.e,,-3.08%, today the Nifty Bank Index must move above 34550-34620-34760, if to do so, then it may try to re-test 34875-34960-35030-35090-35220 levels. On the other hand, any weakness near 34760-34875 and moves below 34480-34300 then, the Index may be dragged to re-visit 34160-34020-33900-33750-33600 levels.

Trading Strategy: The members/followers/readers, those who booked profit near 17600 try to invest in a partial manner near 16500-16200 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.