10.01.22-Monday, 8.34 am

Good Morning Members

What has happened on Friday? Nifty Index, as expected and written, opened on a positive note at 17797.60, our expected opening band i.e.,17790-17835, on opening move, the Index made a day low 17704.55 thereafter, the Index moved up, made a day high 17905 and closed at 17812.70, on a positive note with an intra gain 66.80 points, i.e., 0.38%.

What will happen today? 

Nifty Index: Today, the Nifty Index may open on a positive note near 17845-17870-17900 if open, trade and sustain above 17900 then, the Index may try to re-test 17945-17960-17095-18020-18045-18070-18095 levels. On the other hand, the immediate support lies at 17740-17700 if, the Index moves below 17700 then, it may re-visit 17665-17650-17595-17550-17505-17460 levels.

Special Mention: On Friday, the Nifty Index  took support near our threshold support levels 17700 and closed above 17790 levels; today, the Index may try to move above 17900-17940-17960 levels, further pull back rally above 17960 then, the Index may continue its's up move till 18065-18135-18245 levels in the near term. On the ohter hand if, the Index fails to move above 17900-17960 and moves below 17790-17750 then, the Index may try to re-visit 17655-17360-17250 levels very soon. Let see, how the Index opens today at 17845-17870-17900 levels. 

Nifty Bank Index: Nifty Bank index yesterday, opened at 37667.05, on the opening move, it made a day low 37427.80 thereafter, it moved up, made a day high 38134.85 and closed on a negative note at 37427.80 with an intra loss -62.45 points, i.e,,-0.17%, today the Nifty Bank Index must move above 37930-38055-38135, if to do so, then it may try to re-test 38325-38550-38730-38925 levels. On the other hand, any weakness near 38055-38135 and moves below 37700-37580 then, the Index may re-visit 37510-37430-37235-37060-37000 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.