02.02.22-Wednesday, 8.34 am

Good Morning Members

What has happened yesterday? Nifty Index, as expected and written, opened on a postive note with gap up at 17529.45 our expected opening band i.e.,17415-17450-17485, on opening move, the Index moved up, made a day high 17622.40 thereafter, the Index moved down, made a day low 17244.55, further it moved up once again near day high and closed at 17576.85 on a positive note with an intra gain 237 points, i.e., 1.37%.

What will happen today? 

Nifty Index: Today, the Nifty Index may open on a positive note near 17640-17685-17705 if open, trade and sustain above 17705 then, the Index may try to test 17725-17250-17770-17790-17810-17840 levels. On the other hand, the immediate support lies at 17620-17595 if, the Index moves below 17595 then, it may visit 17565-17525-17500-17470-17445-17420-17385-17350-17305-17245 levels.

Special Mention: Yesterday, the Nifty Index continued the pull back rally and moved up beyond our threshold resistance levels, i.e., 17595 and closed below 17595 levels; today, the Index may try to move up above 17640-17685-17705 levels, further move above 17705 then, the Index may continue it's pull back rally till 17770-17840-17945 levels very soon. On the other hand, if the Index unable to move above 17685-17705 and  moves below 17620-17525 then, it may try to re-visit 17485-17410-17245-17185 levels in the near term. Let see, how the Index opens today at 17640-17685-17705 levels. The intra volatility may be in a high note till this week-end  due to tomorrow's weekly option expiry and Friday's week-end factor. 

Nifty Bank Index: Nifty Bank index yesterday, opened at 38460.45, on the opening move, it made a day high 38802.70 thereafter, it moved down, made a day low 37690.60 further it moved up near day high and closed on a positive note at 38505.50 with an intra gain 526.15 points, i.e,,1.39%, today the Nifty Bank Index must move above 38615-38675, if to do so, then it may try to re-test 38800-38855-38975-39115-39255-39305-39415-39535 levels. On the other hand, any weakness near 38800-38855 or if, moves below 38475-38335 then, the Index may re-visit 38250-38115-37960-37820-37690-37550-37380 levels.

Trading Strategy: The members/followers/readers, those who invested in Nifty100 stocks near 17000-16850 levels, try to book full profit if Nifty Index not moves above 17700-17840-17945 levels or the stocks that gives 9-15% profit and wait for further dips to re-invest.

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.