31.01.22-Monday, 8.34 am

Good Morning Members

What has happened on Friday? Nifty Index, contrary to our expectation,  opened on a postive note with gap up at 17208.30 our expected opening band i.e.,17110-17090-17060, on opening move, the Index moved up, made a day high 17373.50 thereafter, the Index moved down, made a day low 17077.10 and closed at 17101.95 on a negative note with an intra marginal loss -8.20 points, i.e., -0.05%.

What will happen today? 

Nifty Index: Today, the Nifty Index may open on a positive note with a gap up by tracking Asian Indices near 17190-17210-17225 if open, trade and sustain above 17225 then, the Index may try to test 17260-17285-17310-17340-17375-17415-17455 levels. On the other hand, the immediate support lies at 17145-17110 if, the Index moves below 17110 then, it may visit 17080-17040-17000-16965-16935-16900-17870-16836 levels.

Special Mention: On Friday, the Nifty Index moved up beyond our threshold resistance levels, i.e., 17310, the intra sell-off dragged once again till 17077 and closed well below 17150 levels; today, the Index may try to move up 17220-17285 levels, further move above 17285 then, the Index may continue it's pull back rally till 17375-17415-17505-17600 levels very soon. On the other hand, the Index may try to take support at 17150-17075 levels, any sell-off below 17075 then it may try to re-visit 16965-16900-16835-16710-16688 levels in the near term. Let see, how the Index opens today at 17190-17210-17225 levels. The intra volatility this week may rule the index due to today's month-end factor and tomorrow's Union Budget, trade wth due caution is may advice at this juncture. 

Nifty Bank Index: Nifty Bank index on Friday, opened at 38246.60, on the opening move, it made a day high 38421.70 thereafter, it moved down, made a day low 37581.50 and closed on a negative note at 37689.40 with an intra loss -292.70 points, i.e,,-0.77%, today the Nifty Bank Index must move above 37760-37910, if to do so, then it may try to re-test 38020-38130-38225-38325-38450-38570-38650 levels. On the other hand, any weakness near 37910-38130 or if, moves below 37690-37580 then, the Index may re-visit 37470-37350-37280-37150-37040-36960-36850-36740-36670 levels.

Trading Strategy: The members/followers/readers, those who invested in Nifty100 stocks near 17000-16850 levels, try to book profit if Nifty Index not moves above 17300-17455-17600 levels or the stocks that gives 6-9% 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.