01.02.22-Tuesday, 8.52 am

Good Morning Members

What has happened yesterday? Nifty Index, contrary to our expectation,  opened on a postive note with gap up at 17301.05 our expected opening band i.e.,17190-17210-17225, on opening move, the Index moved down, made a day low 17264.15 thereafter, the Index moved up, made a day high 17410 and closed at 17339.85 on a positive note with an intra gain 237.90 points, i.e., 1.39%.

What will happen today? 

Nifty Index: Today, the Nifty Index may open on a positive note with a gap up near 17415-17450-17485 if open, trade and sustain above 17485 then, the Index may try to test 17505-17550-17599-17650-17705 levels. On the other hand, the immediate support lies at 17370-17310 if, the Index moves below 17310 then, it may visit 17265-17225-17155-17105-17075-17015-16995 levels.

Special Mention: Yesterday, the Nifty Index continued the pull back and moved up beyond our threshold resistance levels, i.e., 17375 and closed below 17375 levels; today, the Index may try to move up above 17415-17450-17485 levels, further move above 17485 then, the Index may continue it's pull back rally till 17600-17640-17770-17900 levels very soon. On the other hand, the Index may try to take support at 17310-17265 levels, any sell-off below 17265 then it may try to re-visit 17185-17015-16965-16900-16835 levels in the near term. Let see, how the Index opens today at 17415-17450-17485 levels. The intra volatility may rule the index due to today's Union Budget, trade wth due caution is my advice at this juncture. 

Nifty Bank Index: Nifty Bank index yesterday, opened at 38091.80, on the opening move, it made a day low 37647.85 thereafter, it moved up, made a day low 38217.25 and closed on a positive note at 37979.45 with an intra gain 289.95 points, i.e,,-0.77%, today the Nifty Bank Index must move above 38050-38217, if to do so, then it may try to re-test 38325-38370-38420-38460-38590-38720-38855-38975-39115-39255 levels. On the other hand, any weakness near 37865-37775 or if, moves below 37615-37470 then, the Index may re-visit 37470-37320-37150-36960-36670 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 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.