29.12.21- Wednesday, 8.34 am

Good Morning Members

What has happened yesterday? Nifty Index, as expected and written, opened on a negative note at 17177.60, our expected opening band i.e.,17155-17185, on opening move, the Index made a low 17165 thereafter, the Index moved up, made a day high 17250.25, further the intra sell-off dragged down once again, made a day low 17161.20 and closed at 17233.25, on a positive note with an intra gain 147 points, i.e., 0.86%.

What will happen today? 

Nifty Index: Today, the Nifty Index may open on a flat to positive note near 17250-17225-17195 if open, trade and sustain above 17250 then, the Index may try to re-test 17280-17330-17380-17405-17435 levels. On the other hand, the immediate support lies at 17165-17130 if the Index moves below 17130 then, it may re-visit 17090-17065-17040-17015-16995-16960-16930-16885-16835 levels.

Special Mention: Yesterday, the Nifty Index continued it's pull back rally till 17250 and  closed well above 17160; today, the Index must move above 17250-17280, further if it moves above 17280 then, it may try to re-test 17380-17490-17570 levels in the near term. On the other hand if, the Index unable to move above 17250-17280 and moves below 17160-17130 then, the index may try to re-visit once again till 16960-16880-16680 levels very soon. Let see, how the Index opens today at 17250-17225-17195  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 35308.30, on the opening move, it made a day high 35352.40 thereafter, it moved down, made a day low 35037.80 and closed on a positive note at 35183.80 with an intra gain 125.90 points, i.e,,0.36%, today the Nifty Bank Index must move above 35260-35350, if to do so, then it may try to re-test 35475-35590-35775-35815-35950-36010 levels. On the other hand, any weakness near 35150-35075 and moves below 35050 then, the Index may be dragged to re-visit 34950-34855-34780-34710-34620-34530-34380-34235 levels.

Trading Strategy: The members/followers/readers, those who invested near 16600-16400, try to book profit near 17200-17280-17380 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.