12.01.22-Wednesday, 8.34 am

Good Morning Members

What has happened yesterday? Nifty Index, as expected and written, opened on a flat note at 17997.75 our expected opening band i.e.,18000-18025, on opening move, the Index made a day low 17964.40 thereafter, the Index moved up, made a day high 18081.25 and closed at 18003.30, on a positive note with an intra gain 51.85 points, i.e., 0.29%.

What will happen today? 

Nifty Index: Today, the Nifty Index may open on a positive note with a gap up by tracking the Asian Indices near 18135-18155-18190 if open, trade and sustain above 18190 then, the Index may try to re-test 18210-18240-18275-18295-18320-18340 levels. On the other hand, the immediate support lies at 18080-18040 if, the Index moves below 18040 then, it may re-visit 17960-17930-17910-17860-17840-17770 levels.

Special Mention: Yesterday, the Nifty Index continued its pull back rally till 18081 and closed near 18055 levels; today, the Index may try to move above 18135-18210 levels, further pull back rally above 18210 then, the Index may continue its's up move to re-test 18350-18460-18600 levels in the near term. On the other hand if, the Index fails to move above 18210-18245 and moves below 18055-17960 then, the Index may try to re-visit 17840-17790-17660 levels very soon. Let see, how the Index opens today at 18135-18155-18190 levels. The Intra volatility may be in a high note due to tomorrow's option weekly expiry and Friday's week-end factor.  

Nifty Bank Index: Nifty Bank index yesterday, opened at 38370, on the opening move, it made a day low 38031.35 thereafter, it moved up, made a day high 38504.60 and closed on a postive note at 38347.90 with an intra gain 94.30 points, i.e,,0.25%, today the Nifty Bank Index must move above 38630-38750, if to do so, then it may try to re-test 38850-38940-38980-39115-39190-39220 levels. On the other hand, any weakness near 38750-38850 and moves below 38500-38360 then, the Index may re-visit 38230-38130-38030-37920-37750 levels.

Trading Strategy: The members/followers/readers, those who invested near 17650 start book profit  partially near 18200-18350 levels and wait for 18460-18600 to book full profit.

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.