10.02.22-Thursday, 8.34 am

Good Morning Members

What has happened on yesterday? Nifty Index, as expected and written, opened on a positive note at 17370.10, our expected opening band i.e.,17310-17330-17375, on opening move, the Index moved up, made a day low 17339 thereafter, the Index moved up, made a day high 17477.15 and closed at 17463.80 on  a positive note with an intra gain 197.05 points, i.e., 1.14%.

What will happen today? 

Nifty Index: Today, the Nifty Index may open on a flat to positive note near 17490-17510-17540 if open, trade and sustain above 17540 then, the Index may try to re-test 17575-17595-17605-17635-17670-17705-17745-17795 levels. On the other hand, the immediate support lies at 17460-17430 if, the Index moves below 17430 then, the index may try to re-visit 17390-17370-17340-17305-17275-17250-17220-17200-17180 levels.

Special Mention: Yesterday, the Nifty Index moved up above 17375 levels and made high 17477.15 and closed above 17410; today, the Index may try to continue the pull back rally above 17510-17540 levels, if it moves above 17540 then, the Index may try to test 17595-17650-17795-18085 levels in the near term. On the other hand, if the Index unable to move above 17510-17540-17595 and moves below 17410-17310 then, it may try to re-visit 17045-16950-16835 levels very soon.  Let see, how the Index opens today at 17490-17510-17540 levels. The intra volatility may be in a high note, due to today's RBI MPC meet, Option weekly expiry and tomorrow's week-end factor.

Nifty Bank Index: Nifty Bank index yesterday, opened at 38283.60, on the opening move, it made a day low 38192 thereafter, it moved up, made a day day high 38648.15 and closed on a positive note at 38610.25 with an intra gain 581.10 points, i.e,,1.53%, today the Nifty Bank Index must move above 38650-38770 if to do so, then it may try to re-test 38850-38975-39080-39185--39305-39445-39565-39710-39995 levels. On the other hand, any weakness near 38650-38770 or if, moves below 38500-38370 then, the Index may re-visit 38245-38125-37970-37815-37690-37565-37440-37320 levels.

Trading Strategy: The members/followers/readers, those who invested recently near 17100 levels, try to book partial profit near 17500-17600 or the stocks that you have invested gives 6-9% return then, book partial profit and wait for further upmove.

To, 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

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Wishing you for a safe, secured and profitable trading.