31.12.21- Friday, 8.34 am

Good Morning Members...BISTA wishing in advance, you and your near & dear a Happy New Year 2022

What has happened yesterday? Nifty Index, as expected and written, opened on a flat note at 17201.45, our expected opening band i.e.,17220-17200-17175, on opening move, the Index made a day low 17146.35 thereafter, the Index moved up, made a day high 17264.05 and closed at 17203.95, on a negative note with an intra loss -9.65 points, i.e., -0.06%.

What will happen today? 

Nifty Index: Today, the Nifty Index may open on a positive note near 17230-17255-17285 if open, trade and sustain above 17285 then, the Index may try to re-test 17330-17380-17405-17435 levels. On the other hand, the immediate support lies at 17190-17175-17160 if, the Index moves below 17145 then, it may re-visit 17115-17090-17060-17040-17005-16975-16940-16915-16885-16835 levels.

Special Mention: Yesterday, the Nifty Index unable continue pull back rally above threshold resistance levels, i.e., 17285 and closed well above 17160; today, the Index must move above 17250-17285, further if it moves above 17285 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 17160-17145 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 17230-17255-17285 levels, the intra volatility may be in a high note, due to today's week-month-cum-year end factor.

Nifty Bank Index: Nifty Bank index yesterday, opened at 34977.65, on the opening move, it made a day low 34751.80 thereafter, it moved up 35179.05 and closed on a positive note at 35063.60 with an intra marginal gain 18.20 points, i.e,,0.05%, today the Nifty Bank Index must move above 35130-35180, if to do so, then it may try to re-test 35285-35340-35375-35470-35590-35795-35815 levels. On the other hand, any weakness near 35180-35285 and moves below 35030 then, the Index may be dragged to re-visit 34960-34810-34750-34670-34585-34515-34370 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.