03.01.22- Monday, 8.50 am

Good Morning Members.

What has happened on Friday? Nifty Index, as expected and written, opened on a positive note at 17244.50, our expected opening band i.e.,17230-17255-17285, on opening move, the Index made a day low 17238.50 thereafter, the Index moved up, made a day high 17400.80 and closed at 17354.05, on a positive note with an intra gain 150.10 points, i.e., 0.87%.

What will happen today? 

Nifty Index: Today, the Nifty Index may open on a positive note near 17380-17400 if open, trade and sustain above 17400 then, the Index may try to re-test 17445-17470-17499-17525-17555 levels. On the other hand, the immediate support lies at 17360-17340-17320 if, the Index moves below 17340-17320 then, it may re-visit 17300-17275-17255-17240-17210-17185-17150 levels.

Special Mention: On Friday, the Nifty Index continued it's pull back rally above threshold resistance levels, i.e., 17380, but ubable to close 17380; today, the Index must move above 17400-17450, further if it moves above 17450 then, it may try to re-test 17490-17570-17640 levels in the near term. On the other hand if, the Index unable to move above 17400-17450 and moves below 17360-17320 then, the index may try to re-visit once again till 17050-16960-16880-16680 levels very soon. Let see, how the Index opens today at 17380-17400 levels.

Nifty Bank Index: Nifty Bank index on Friday, opened at 34573.65, on the opening move, it made a day low 34233 thereafter, it moved up 35596.95 and closed on a positive note at 35481.70 with an intra gain 418.10 points, i.e,,1.19%, today the Nifty Bank Index must move above 35600-35730, if to do so, then it may try to re-test 35840-36000-36220-36370-36540 levels. On the other hand, any weakness near 35600-35730 and moves below 35450-35360 then, the Index may be dragged to re-visit 35230-35170-35110-34960-34810-34750-34670-34555-34410-34230 levels.

Trading Strategy: The members/followers/readers, those who invested near 16600-16400, try to book profit near 17400-17550-17640 levels in the Nifty Index or the stocks that you have bought gives 6-9% profit then, book profit and wait for further down move to invest further near 16700-16400 levels in Nifty100 stocks.

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.