03.02.22-Thursday, 8.34 am

Good Morning Members

What has happened yesterday? Nifty Index, as expected and written, opened on a postive note 17706.20, our expected opening band i.e.,17640-17685-17705, on opening move, the Index moved down, made a day low 17674.80 thereafter, the Index moved up, made a day high 17794.60 and closed at 17780 on a positive note with an intra gain 203.15 points, i.e., 1.16%.

What will happen today? 

Nifty Index: Today, the Nifty Index may open on a flat to positive note near 17785-17825-17840 if open, trade and sustain above 17840 then, the Index may try to test 17870-17905-17945-17975 levels. On the other hand, the immediate support lies at 17725-17705 if, the Index moves below 17705 then, it may visit 17675-17640-17590-17555-17505-17455 levels.

Special Mention: Yesterday, the Nifty Index continued the pull back rally and moved up beyond our threshold resistance levels, i.e., 17770 levels and closed above 17705 levels; today, the Index may try to move up above 17825-17850 levels, further move above 17850 then, the Index may continue it's pull back rally till 17945-18085-18130 levels very soon. On the other hand, if the Index unable to move above 17785-17825-17840 and moves below 17725-17675 then, it may try to re-visit 17595-17485-17410 levels in the near term. Let see, how the Index opens today at 17785-17825-17840 levels. The intra volatility may be in a high note due to today's  weekly option expiry and tomorrow's week-end factor, try to avoid aggressive long position, any time a technical sell-off may be possible  till 17620-17500 levels, either today or tomorrow.

Nifty Bank Index: Nifty Bank index yesterday, opened at 38841.65, on the opening move, it made a day high 38752.65 thereafter, it moved up, made a day high 39386.60 and closed on a positive note at 39330.50 with an intra gain 247.15 points, i.e,,0.64%, today the Nifty Bank Index must move above 39385-39440, if to do so, then it may try to re-test 39540-39560-39630-39710-39800 levels. On the other hand, any weakness near 39385-39440 or if, moves below 39200-39050 then, the Index may re-visit 39000-38855-38740-38620-38580-38500-38370 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 17785-17840-17945 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.