22.12.21-Wednesday, 8.34 am

Good Morning Members

What has happened yesterday? Nifty Index, as expected and written, opened on a positive note with a gap up at 16773.15, our expected opening band i.e.,16720-16750-16780 on opening move, the Index made a low 16723  thereafter, the Index moved, made a day high 16936.40, further the intra sell-off dragged the Index, made a day low 16688.25 and closed at 16770.85, on a positive note with an intra gain 156.65 points, i.e., 0.94%.

What will happen today? 

Nifty Index: Today, the Nifty Index may open on a positive note near 16820-16860 if open, trade and sustain above 16860 then, the Index may try to re-test 16890-16935-16955-17005-17025-17050-17095 levels. On the other hand, the immediate support lies at 16780-16745 if the Index moves below 16745 then, it may re-visit 16715-16690-16650-16620-16580-16525-16460-16410 levels.

Special Mention: Yesterday, the pull back rally took the Nifty Index till our threshold resistance levels, i.e., 16940 made a high 16936, the intra sell-off dragged the Index once again till 16688 and closed very near our threshold support levels, i.e., 16780; today, the Index may try to move above 16850-16940, further if it moves above 16940 then, the it may try to re-test 17160-17280-17380 levels in the near term. On the other hand if, the Index unable to move above 16940-17000 and moves below 16780-16700 then, the index may try to re-visit once again till 16550-16410, further weakness below 16400, may drag the Index till 16165-16000 levels very soon. Let see, how the Index opens today at 16820-16860 levels, the intra volatility may be in a high note due to tomorrow's weekly option expiry and Friday's week end factor.

Nifty Bank Index: Nifty Bank index yesterday, opened at 34863.35, on the opening move, it made a day high 35050 thereafter, it moved down throughout the day, made a day low 34389.95 and closed on a positive note at 34607.85 with an intra gain 168, i.e,,0.49%, today the Nifty Bank Index must move above 34750-34855, if to do so, then it may try to re-test 34975-35050-35140-35230-35320-35400-35535 levels. On the other hand, any weakness near 34855-35050 and moves below 34720-34600 then, the Index may be dragged to re-visit 34460-34390-34210-34020 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.