16.02.22-Wednesday, 8.34 am

Good Morning Members

What has happened yesterday? Nifty Index, as expected and written, opened on a positive note at 16933.25 our expected opening band i.e.,16875-16920-16955, on opening move, the Index made a day low at 16839.25; thereafter, it moved up, made a day high 17375 and closed at 17352.45,on a positive note with an intra gain 509.65 points, i.e., 3.03%.

What will happen today? 

Nifty Index: Today, the Nifty Index may open on a flat to positive note near 17375-17420-17455 levels; if open, trade and sustain above 17455 then, the Index may try to re-test 17475-17505-17545-17580-17610-17640 levels. On the other hand, the immediate support lies at 17310-17260 if, the Index moves below 17260 then, the index may try to re-visit 17225-17185-17140-17110-17075-17045-17000 levels.

Special Mention: Yesterday, the Nifty Index took strong support at our threshold levels i.e., 16840 then, the Index pulled back and tested 17375 levels and closed well above 17310 levels; today, the Index may try to move above 17420-17455 levels, if moves above 17455 then, the pull back rally may continue to test 17640-17795 levels in the near term. On the other hand, if the Index unable to sustain above 17420-17455 and moves below 17300-17260 then, the weakness drag the index to re-visit 17185-17100-17040-16840-16810 levels in the near term. Let see, how the Index opens today at 16875-16920-16955 levels, the intra volatility may be in a high note due to tomorrow's option weekly expiry and Friday's week-end factor.

Nifty Bank Index: Nifty Bank index yesterday, opened at 36989.90 on the opening move, it made a day low 36651.85 thereafter, it moved up throughout the day, made a day high 38231.60 and closed on a positive note at 38170.10 with an intra gain 1264.55 points, i.e,,-3.42%, today the Nifty Bank Index must move above 38230-38350 if to do so, then it may try to re-test 38452-38520-38650-38790-38840-38910 levels. On the other hand, any weakness near 38350-38452 or if, moves below 38050-37910 then, the Index may re-visit 37770-37630-37525-37440-37255-37140-37025 levels.

Trading Strategy: The members/followers/readers, those who invested at 16800 levels, try to book partial profit near 17400-17500 or the stocks that you have ivested gives a profit 6-9% and wait for 17800-18000 levels to book full profit.

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

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.