24.01.22-Monday, 8.34 am

Good Morning Members

What has happened on Friday? Nifty Index, as expected and written, opened on a negative note at 17613.70, our expected opening band i.e.,17645-17610-17595, on opening move, the Index made a low 17527 thereafter, the Index moved up, made a day high 17707.60, further it moved down, made a day low 17485.85 and closed at 17617.15 on a negative note with an intra loss -139.85 points, i.e., -0.79%.

What will happen today? 

Nifty Index: Today, the Nifty Index may open on a negative note with gap down near 17555-17525-17485 if open, trade and sustain above 17615-17650 then, the Index may try to test 17685-17707-17735-17765-17790-17815 levels. On the other hand, the immediate support lies at 17455-17425 if, the Index moves below 17425 then, it may visit 17425-17400-17385-17355-17305-17265 levels.

Special Mention: On Friday, the Nifty Index moved down beyond our threshold support levels, i.e., 17660, made a low 17485.85 and closed well below17635 levels; today, the Index may try to take support near 17485-17425-17355 levels, further move below 17355 then, the Index may continue it's sell-off to re-visit 17270-17150-17010 levels in the near term. On the other hand if, the Index takes support near 17485-17425-17355 and moves above 17710 then, it may try to re-test 17820-17880-17945-18080-18130 levels in the near term. Let see, how the Index opens today at 17555-17525-17485 levels. The intra volatility already in elevated levels, this week the volatility may rule the Index this week due to F&O expiry and there is a holiday in between on Wednesday on account of Republic day. 

Nifty Bank Index: Nifty Bank index on Friday, opened at 37522.25, on the opening move, it made a day low 37224.25 thereafter, it moved up, made a day high 37741 and closed on a negative note at 37574.30 with an intra loss -276.55 points, i.e,,-0.73%, today the Nifty Bank Index must move above 37590-37680, if to do so, then it may try to re-test 37750-37880-37940-38040-38135-38230 levels. On the other hand, any weakness near 37590-37680 or if, moves below 37420-37350 then, the Index may re-visit  37280-37225-37085-36820-36680-36540 levels.

Trading Strategy: The members/followers/readers, those who booked profit near 18350 levels, try to start re-nvest near 17500-17380-17150 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.