04.02.22-Friday, 8.34 am

Good Morning Members

What has happened yesterday? Nifty Index, contrary to our expectation, opened on a flat to negative note at 17767.75, our expected opening band i.e.,17785-17825-17840, on opening move, the Index moved up, made a day high 17781.15 thereafter, the Index moved down throughout the day, made a day low 17511.15 and closed at 17560.20 on a negative note with an intra loss -219.80 points, i.e., -1.24%.

What will happen today? 

Nifty Index: Today, the Nifty Index may open on a flat to positive note near 17580-17620 if open, trade and sustain above 17620 then, the Index may try to re-test 17640-16685-17710-17730-17760-17780-17825-17845-17875-17905 levels. On the other hand, the immediate support lies at 17545-17511 if, the Index moves below 17511 then, it may visit 17485-17455-17435-17410-17375-17310-17275-17245 levels.

Special Mention: Yesterday, the Nifty Index unable to continue the pull back rally beyond 17795 levels, yesterday i wrote, the technical sell-off is possible tilll 17600-17500 levels, as expected the Index witnessed a brief sell-off near our threshold support levels i.e., 17500 levels and closed well above 17515 levels; today, the Index may try to move up above 17640-17675 levels, further it moves above 17675 then, the Index may continue it's pull back rally till 17795-17945-18085-18130 levels very soon. On the other hand, if the Index unable to move above 17640-17675 and moves below 17510-17470-17440 then, it may try to re-visit 17410-17315-17200 levels in the near term. Let see, how the Index opens today at 17580-17620 levels. The intra volatility may be in a high note today, due to week-end factor, try to avoid aggressive long position if the index moves below 17435-17410 levels.

Nifty Bank Index: Nifty Bank index yesterday, opened at 39255.70, on the opening move, it made a day high 39424.85 thereafter, it moved down, made a day low 38861.15 and closed on a nagative note at 39010 with an intra loss -257.35 points, i.e,,0.64%, today the Nifty Bank Index must move above 39075-39155, if to do so, then it may try to re-test 39260-39360-39425-39535-39575-39640-39745-39850 levels. On the other hand, any weakness near 39075-39155 or if, moves below 38930-38855 then, the Index may re-visit 38770-38705-38650-38530-38400-38260-38170-38080-37900 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.