28.12.21-Tuesday, 8.34 am

Good Morning Members

What has happened yesterday? Nifty Index, contrary to our expectation, opened on a negative note at 16937.75, our expected opening band i.e.,17000-16965, on opening move, the Index made a day low 16833.20 thereafter, the Index moved up throughout the day, made a day high 17112.05 and closed at 17086.25, on a positive note with an intra gain 82.50 points, i.e., 0.49%.

What will happen today? 

Nifty Index: Today, the Nifty Index may open on a positive note near 17155-17185 if open, trade and sustain above 17185 then, the Index may try to re-test 17225-17256-17280-17330-17380 levels. On the other hand, the immediate support lies at 17110-17080 if the Index moves below 17080 then, it may re-visit 17030-16970-16940-16910-16870-16830 levels.

Special Mention: Yesterday, the pull back rally unable to continue, it took support near 16835, further it moved up till 17115 and  closed near 17090; today, the Index may try to move above 17155-17225, further if it moves above 17225 then, it may try to re-test 17280-17380-17490 levels in the near term. On the other hand if, the Index unable to move above 17155-17225 and moves below 17090-17030 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 17155-17185 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 yesterday, opened at 34573.65, on the opening move, it made a day low 34233 thereafter, it moved up  throuhgout the day, made a day high 35143.70 and closed on a positive note at 35057.90 with an intra gain 200.85 points, i.e,,0.58%, today the Nifty Bank Index must move above 35330-35390-35475, if to do so, then it may try to re-test 35590-35775-35815-35950-36010-36100 levels. On the other hand, any weakness near 35390-35475 and moves below 35145-35050 then, the Index may be dragged to re-visit 34875-34795-34680-34580-34445-34340-34235 levels.

Trading Strategy: The members/followers/readers, those who invested near 16600-16400, try to book profit near 17150-17280-17380 levels in the Nifty Index or the stocks that you have bought gives 6-9% 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.