30.12.21- Thursday, 8.34 am

Good Morning Members

What has happened yesterday? Nifty Index, as expected and written, opened on a flat note at 17220.10, our expected opening band i.e.,17250-17225-17195, on opening move, the Index made a high 17285.95 thereafter, the Index was trading in range, the last hour it moved down, made a day low 17176.65 and closed at 17213.60, on a negative note with an intra loss -19.65 points, i.e., -0.11%.

What will happen today? 

Nifty Index: Today, the Nifty Index may open on a flat note near 17220-17200-17175 if open, trade and sustain above 17250 then, the Index may try to re-test 17285-17330-17380-17405-17435 levels. On the other hand, the immediate support lies at 17175-17160 if, the Index moves below 17130 then, it may re-visit 17145-17110-17090-17060-17040-17005-16975-16940-16915-16885-16835 levels.

Special Mention: Yesterday, the Nifty Index continued it's pull back rally till our threshold resistance levels, i.e., 17285 and closed well above 17160; today, the Index must move above 17285-17320, further if it moves above 17320 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 17250-17285 and moves below 17160-17133 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 17220-17175 levels, the intra volatility may be in a high note, due to today's F&O expiry and tomorrow's month-cum-year end factor.

Nifty Bank Index: Nifty Bank index yesterday, opened at 35168.85, on the opening move, it made a day high 35378.30 thereafter, it moved down, made a day low 34890.80 and closed on a negative note at 35045.34 with an intra loss -138.40 points, i.e,,-0.39%, today the Nifty Bank Index must move above 35160-35210, if to do so, then it may try to re-test 35280-353540-35375-35470-35590-35795-35815 levels. On the other hand, any weakness near 35050-150-35075 and moves below 35050 then, the Index may be dragged to re-visit 34950-34810-34740-34670-34585-34510-34370 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.