23.12.21-Thursday, 8.34 am

Good Morning Members

What has happened yesterday? Nifty Index, as expected and written, opened on a positive note at 16865.55, our expected opening band i.e.,16820-16850 on opening move, the Index made a low 16819.50 thereafter, the Index moved, made a day high 16962.10 and closed at 16955.45, on a positive note with an intra gain 184.60 points, i.e., 1.10%.

What will happen today? 

Nifty Index: Today, the Nifty Index may open on a positive note near 16970-17010-17025 if open, trade and sustain above 17025 then, the Index may try to re-test 17050-17070-17095-17130-17170-17195 levels. On the other hand, the immediate support lies at 16940-16910 if the Index moves below 16910 then, it may re-visit 16875-16855-16840-16820-16780-16750-16710-16685 levels.

Special Mention: Yesterday, the pull back rally continued beyond our threshold resistance levels, i.e., 16940 made a high 16962 and closed well above, i.e., 16940; today, the Index may try to move above 17000-17050, further if it moves above 17050 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 17000-17050 and moves below 16940-16880 then, the index may try to re-visit once again till 16680-16550-16410, further weakness below 16400, may drag the Index till 16165-16000 levels in the near term. Let see, how the Index opens today at 16970-17010-17025 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 34865.25, on the opening move, it made a day low 34687.60 thereafter, it moved up, made a day high 35112.10 and closed on a positive note at 35029.50 with an intra gain 421.65 points, i.e,,1.22%, today the Nifty Bank Index must move above 35170-35230, if to do so, then it may try to re-test 35330-35425-35535-35590-35695-35775 levels. On the other hand, any weakness near 35230-35330 and moves below 35030-34850 then, the Index may be dragged to re-visit 34785-34690-34540-34390 levels.

Trading Strategy: The members/followers/readers, those who invested near 16600-16400, try to book partial profit near 17000-17150-17300 levels in the Nifty Index or the stocks that you have bought gives 5-6% profit then, book partial profit and hold remaining, till further advice.

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.