07.02.22-Monday, 8.34 am

Good Morning Members

What has happened on Friday? Nifty Index, contrary to our expectation, opened on a flat to positive note at 17590.20, our expected opening band i.e.,17580-17620, on opening move, the Index moved up, made a day high 17617.80 thereafter, the Index moved down throughout the day, made a day low 17462.55 and closed at 17516.30 on negative note with an intra loss -43.90 points, i.e., -0.25%.

What will happen today? 

Nifty Index: Today, the Nifty Index may open on a negative note near 17490-17465-17430 if open, trade and sustain below 17465-17430 then, the Index may try to re-visit 17410-17375-17345-17315-17285-17260-17245-17205 levels. On the other hand, the immediate resistance seen at 17515-17550 if, the Index moves above 17550 then, the index may test 17585-17615-17630-17660-17695-17725-17755-17795-17830 levels.

Special Mention: On Friday, the Nifty Index unable to continue the pull back rally beyond 17795 levels, the technical sell-off continued for the second day made a low 17462.55 levels and closed  just above 17515 levels; today, the Index may try to move up above 17550-17585 levels, further it moves above 17585 then, the Index may continue it's pull back rally till 17620-17695-17795-17945-18085-18130 levels very soon. On the other hand, if the Index unable to move above 17550-17585 and moves below 17480-17430 then, it may try to re-visit 17315-17200-17130 levels in the near term. Let see, how the Index opens today at 17490-17465-17430 levels. The intra volatility may be in a high note this week due to RBI Policy MPC meet, which is expected on 09th Feb-Wednesday.

Nifty Bank Index: Nifty Bank index yesterday, opened at 39128, on the opening move, it made a day high 39278.60 thereafter, it moved down, made a day low 38562.80 and closed on a negative note at 38789.25 with an intra loss -220.75 points, i.e,,0.57%, today the Nifty Bank Index must move above 38855-38920, if to do so, then it may try to re-test 39070-39125--39275-39424 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.