06.01.22-Thursday, 8.34 am

Good Morning Members.

What has happened yesterday? Nifty Index, as expected and written, opened on a flat note at 17820.10, our expected opening band i.e.,17800-17760, on opening move, the Index made a low 17748.65 thereafter, the Index moved up, made a day high 17944.70 and closed at 17925.25, on a positive note with an intra gain 120 points, i.e., 0.67%.

What will happen today? 

Nifty Index: Today, the Nifty Index may open on a negative note near 17870-17840-17800 if open, trade and sustain above 17900-17945-17960 then, the Index may try to re-test 18000-18050-18090-18135 levels. On the other hand, the immediate support lies at 17825-17790-17770 if, the Index moves below 17770 then, it may re-visit 17750-17725-17700-17675-17640-17595-17570-17525 levels.

Special Mention: Yesterday, the Nifty Index continued it's pull back rally reached our threshold resistance levels, i.e., 17960, made a high 17944.70 and closed at 17925 levels; today, we can expect some technical sell-off -cum- profit booking in the Index, this may drag the Index till 17750-17650 levels,  further weakness below 17650 then, the Index may try to re-visit 17600-17400 levels very soon. On the other hand if, the Index takes support near 17800-17750 and move above 17880-17960 then, it may re-test 18050-18150-18240 levels in the near term. Let see, how the Index opens today at 17870-17800-17800 levels. The intra volatility may be in a high note due to today's Option Weekly expiry and tomorrow's week-end factor.

Nifty Bank Index: Nifty Bank index yesterday, opened at 36943.55, on the opening move, it made a day low 36374.40 thereafter, it moved up, made a day high 37862.40 and closed on a positive note at 37695.90 with an intra gain 855.75 points, i.e,,2.32%, today the Nifty Bank Index must move above 37720-37860, if to do so, then it may try to re-test 38000-38160-38385 levels. On the other hand, any weakness near 37720-37600 and moves below 37360-37180 then, the Index may be dragged to re-visit 36970-36880-36760-36695-36550-36460-36420-36375-36250 levels.

Trading Strategy: The members/followers/readers, those who booked profit near 17960 levels in the Nifty Index, may start to re-invest partially near 17650-17400-17250 level in the Nifty100 stocks for short to medium term perspective to gain 5-10%.

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.