08.02.22-Tuesday, 8.34 am

Good Morning Members

What has happened on yesterday? Nifty Index, contrary to our expectation, opened on a negative note at 17456.30, our expected opening band i.e.,17490-17465-17430, on opening move, the Index moved up, made a day high 17536.75 thereafter, the Index moved down throughout the day, made a day low 17119.40 and closed at 17213.60 on negative note with an intra loss -302.70 points, i.e., -1.73%.

What will happen today? 

Nifty Index: Today, the Nifty Index may open on a flat note near 17210-17185 if open, trade and sustain below 17185-17170 then, the Index may try to re-visit 17125-17100-17075-17060-17030-17000-16980-16950-16910 levels. On the other hand, the immediate resistance seen at 17245-17275 if, the Index moves above 17275 then, the index may test 17310-17330-17375-17415-17445-17460-17495-17535-17566-17595-17620-17655 levels.

Special Mention: Yesterday, the Nifty Index continued the sell-off for the third day, made a low 17119.40 levels and closed below 17245 levels; today, the Index may try to move up above 17245-17310 levels, if it moves above 17310 then, the Index may continue it's pull back rally till 17595-17650-17795-18085-18130 levels in the near term. On the other hand, if the Index unable to move above 17245-17310 and moves below 17120-17075 then, it may try to re-visit 16950-16835-16688-16410 levels very soon.  Let see, how the Index opens today at 17210-17185 levels. The intra volatility may be in a high note this week due to tomorrow's RBI Policy MPC meet, Option weekly expiry and Friday's week-end factor.

Nifty Bank Index: Nifty Bank index yesterday, opened at 38592.05, on the opening move, it made a day high 38837.55 thereafter, it moved down, made a day low 37802.70 and closed on a negative note at 37995.45 with an intra loss -793.80 points, i.e,,-2.05%, today the Nifty Bank Index must move above 38081-38195, if to do so, then it may try to re-test 38260-38320-38395-38530-38650-38770-38925-39075-39120-39330-39445 levels. On the other hand, any weakness near 38081-38195 or if, moves below 37900-37800 then, the Index may re-visit 37720-37530-37425-37320-37210-37095-37015 levels.

Trading Strategy: The members/followers/readers, those who booked the profit near 17800 levels, try to re-invest near 17100-16800-16400 in Nifty 100 stocks for a medium term perspective to gain 5-10%.

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.