24.12.21-Friday, 8.34 am

Good Morning Members

What has happened yesterday? Nifty Index, as expected and written, opened on a positive note at 17066.80, our expected opening band i.e.,16970-17010-17025 on opening move, the Index made a low 17015.55 thereafter, the Index moved up, made a day high 17118.65 and closed at 17072.60, on a positive note with an intra gain 117.15 points, i.e., 0.69%.

What will happen today? 

Nifty Index: Today, the Nifty Index may open on a positive note near 17090-17120-17145 if open, trade and sustain above 17145 then, the Index may try to re-test 17170-17195-17220-17250-17280-17298-17330 levels. On the other hand, the immediate support lies at 17055-17015 if the Index moves below 17015 then, it may re-visit 16985-16970-16940-16915-16885-16840 levels.

Special Mention: Yesterday, the pull back rally continued till 17118.65 and closed below, i.e., 17090; today, the Index may try to move above 17120-17145-17170, further if it moves above 17170 then, the it may try to re-test 17280-17380-17500 levels in the near term. On the other hand if, the Index unable to move above 17120-17145-17170 and moves below 17055-17000 then, the index may try to re-visit once again till 16880-16680-16550-16410 levels very soon. Let see, how the Index opens today at 17090-17120-17145 levels, the intra volatility may be in a high note due to today's week end factor, avoid aggressive long positon.

Nifty Bank Index: Nifty Bank index yesterday, opened at 35350.50, from the opening move till noon it was trading with upward bias and made a day high 35477.30 thereafter, it moved down, made a day low 35046.25 and closed on a positive note at 35191.15 with an intra gain 161.65 points, i.e,,0.46%, today the Nifty Bank Index must move above 35260-35390, if to do so, then it may try to re-test 35475-35590-35775-35960 levels. On the other hand, any weakness near 35260-35390 and moves below 35190-35090 then, the Index may be dragged to re-visit 35050-34990-34930-34760-34690-34575-34470 levels.

Trading Strategy: The members/followers/readers, those who invested near 16600-16400, try to book partial profit near 17150-17350 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.