04.01.22- Tuesday, 8.34 am

Good Morning Members.

What has happened yesterday? Nifty Index, as expected and written, opened on a positive note at 17387.15, our expected opening band i.e.,17360-17400, on opening move, the Index made a day low 17383.30 thereafter, the Index moved up throughout the day, made a day high 17646.65 and closed at 17625.70, on a positive note with an intra gain 271.65 points, i.e., 1.57%.

What will happen today? 

Nifty Index: Today, the Nifty Index may open on a flat to positive note near 17625-17645-17680 if open, trade and sustain above 17680 then, the Index may try to re-test 17695-17720-17745-17765-17805 levels. On the other hand, the immediate support lies at 17600-17570 if, the Index moves below 17570-17555 then, it may re-visit 17510-17475-17445-17415-17385-17340-17285-17240-17210-17180-17150 levels.

Special Mention: Yesterday, the Nifty Index continued it's pull back rally reached our threshold resistance levels, i.e., 17640 and closed well above 17400 levels; today, the Index must move above 17645-17700, further if it moves above 17700 then, it may try to re-test 17805-17960 levels in the near term. On the other hand if, the Index unable to move above 17645-17680-17700 and moves below 17450-17390 then, the index may try to re-visit once again till 17280-17150-17025 levels very soon. Let see, how the Index opens today at 17625-17645-17680 levels.

Nifty Bank Index: Nifty Bank index yesterday, opened at 35585.20, on the opening move, it made a day low 35526.60 thereafter, it moved up throughout the day, made a day high 36492.10 and closed on a positive note at 36421.90 with an intra gain 940.20 points, i.e,,2.65%, today the Nifty Bank Index must move above 36492-36545, if to do so, then it may try to re-test 36675-36820-36695-37175 levels. On the other hand, any weakness near 36500-36550 and moves below 36350-36235 then, the Index may be dragged to re-visit 35120-36010-35920-35825-35750-35670-35500-35330 levels.

Trading Strategy: The members/followers/readers, those who invested near 16600-16400, try to book full profit near 17650-17800-17960 levels in the Nifty Index or the stocks that you have bought gives 9.15 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.