21.01.22-Friday, 8.34 am

Good Morning Members

What has happened yesterday? Nifty Index, as expected and written, opened on a flat to negative note at 17921, our expected opening band i.e.,17940-17995, on opening move, the Index made a day high 17943.70 thereafter, the Index moved down throughout the day, made a day low 17648.45 and closed at 17757, on a negative note with an intra loss -181.40 points, i.e., -1.01%.

What will happen today? 

Nifty Index: Today, the Nifty Index may open on a negative note with gap down near 17645-17610-17595 if open, trade and sustain above 17685-17720 then, the Index may try to test 17760-17785-17830-17855-17885-17910-17945 levels. On the other hand, the immediate support lies at 17610-17595 if, the Index moves below 17595 then, it may visit 17570-17550-17505-17460-17415-17385-17355 levels.

Special Mention: Yesterday, the Nifty Index moved down beyond our threshold support levels, i.e., 17660, made a low 17648.45 and closed well above 17660 levels; today, the Index may try to take support near 17645-17610-17595 levels, further move below 17610-17595 then, the Index may continue it's sell-off to re-visit 17400-17270-17150 levels in the near term. On the other hand if, the Index takes support near 17645-17595 and moves above 17720-17785 then, it may try to re-test 17880-17945-18065-18130 levels in the near term. Let see, how the Index opens today at 17645-17610-17595 levels. The intra volatility already in elevated levels, today we can witness more volatility, due to week-end factor, aviod agressive short position. 

Nifty Bank Index: Nifty Bank index yesterday, opened at 38106.10, on the opening move, it made a day high 38167.95 thereafter, it moved down, made a day low 37591.85 and closed on a negative note at 37850.45 with an intra loss -190.50 points, i.e,,-0.50%, today the Nifty Bank Index must move above 37880-37945, if to do so, then it may try to re-test 38000-38100-38165-38225-38330 levels. On the other hand, any weakness near 37880-37945 or if, moves below 37770-37725 then, the Index may re-visit  37660-37590-37500-37435-37300-37180-37060 levels.

Trading Strategy: The members/followers/readers, those who booked profit near 18350 levels, try to start re-nvest near 17600-17380-17150 levels in Nifty100 stocks with 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.