07.01.22-Friday, 8.34 am

Good Morning Members.

What has happened yesterday? Nifty Index, as expected and written, opened on a negative note at 17768.50, our expected opening band i.e.,17840-17800, on opening move, the Index made a high 17797.95 thereafter, the Index moved down, made a day low 17655.55, further the Index moved up near the day high and closed at 17745.90, on a negative note with an intra loss -179.35 points, i.e., -1.00%.

What will happen today? 

Nifty Index: Today, the Nifty Index may open on a positive note near 17790-17835 if open, trade and sustain above 17835  then, the Index may try to re-test 17860-17885-17910-17945-17960-17095-18020 levels. On the other hand, the immediate support lies at 17730-17690 if, the Index moves below 17770 then, it may re-visit 17650-17615-17592-17545-17490-17450 levels.

Special Mention: Yesterday, the Nifty Index as expected wtntessed a technical sell-off till our threshold support levels 17650 and closed near 17750 levels; today, we can expect some minor pull back till 17860-17900  levels,  further move above 17900-17960 then, the Index may try to continue its's pull back rally till 18065-18135-18245 levels in the near term. On the ohter hand if, the Index fails to move above 17860-17900 and moves below 17750-17650 then, the Index may try to re-visit 17500-17250 levels very soon. Let see, how the Index opens today at 17790-17835 levels. The intra volatility may be in a high note due to today's week-end factor.

Nifty Bank Index: Nifty Bank index yesterday, opened at 37242.55, on the opening move, it made a day low 37058.45 thereafter, it moved up, made a day high 37752.50 and closed on a negative note at 37490.25 with an intra loss -205.65 points, i.e,,-0.55%, today the Nifty Bank Index must move above 37550-37750, if to do so, then it may try to re-test 37850-37940-38065-38170-38385 levels. On the other hand, any weakness near 37550-37750 and moves below 37410-37325 then, the Index may be dragged to re-visit 37220-37140-37060-37015-36885-36760 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.