27.12.21-Monday, 8.34 am

Good Morning Members

What has happened on Friday? Nifty Index, as expected and written, opened on a positive note at 17149.50, our expected opening band i.e.,17090-17120-17145, on opening move, the Index made a high 17155.60 thereafter, the Index moved down, made a day on 16909.50 and closed at 17003.75, on a negative note with an intra loss -68.85 points, i.e., -0.40%.

What will happen today? 

Nifty Index: Today, the Nifty Index may open on a flat note near 17000-16965 if open, trade and sustain above 17000-17030 then, the Index may try to re-test 17065-17085-17105-17125-17155-17170-17198-17225-17256-17280 levels. On the other hand, the immediate support lies at 16940-16910 if the Index moves below 16910 then, it may re-visit 16870-16845-16825-16785-16765-16740-16695 levels.

Special Mention: On Friday, the pull back rally continued till 17155.60 and closed very well below, i.e., 17090; today, the Index may try to move above 17000-17035, further if it moves above 17035 then, the it may try to re-test 17155-17280-17380-17490 levels in the near term. On the other hand if, the Index unable to move above 17070-17155 and moves below 16940-16910 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  17000-16965 levels, the intra volatility may be in a high note this week, due to F&O expiry, month-cum-year end factor.

Nifty Bank Index: Nifty Bank index on Friday, opened at 35282.20, on the opening move, it made a day high 35327.95 thereafter, it moved down, made a day low 34583.40 and closed on a negative note at 34857.05 with an intra loss -334.10 points, i.e,,-0.95%, today the Nifty Bank Index must move above 35050-35160, if to do so, then it may try to re-test 35330-35475-35590-35775-35960 levels. On the other hand, any weakness near 34860-34760 and moves below 34585-34360 then, the Index may be dragged to re-visit 34190-34020-33930-33825-33620-33450-33275-33100 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.