25.02.22-Friday, 8.34 am

Good Morning Members

What has happened yesterday? Nifty Index, as expected and written, opened on a negative note with gap down at 16548.90, our expected opening band i.e.,16930-16810, on opening move, the Index made a day high 16705.25; thereafter, it moved down, made a day low 16203.25 and closed at 16247.85 on a negative note with an intra loss -815.30 points, i.e., -4.78%.

What will happen today? 

Nifty Index: Today, the Nifty Index may open on a positive note with gap up, near 16410-16450-16505 levels; if open, trade and sustain above 16510 then, the index re-test 16560-16600-16650-16700-16740-16770-16805-16840 levels. On the other hand, the immediate support lies at 16320-16290 if, the Index moves below then, the index may try to re-visit 16245-16205-16185-16160-16110-16065-15950-15885 levels.

Special Mention: Yesterday, the Nifty Index witnessed  a big gap down due to Russian-Ukraine war, the sell-off further continued and dragged the Index beyond our threshold support levels i.e., 16410 and moved near 16200 and closed well below 16410 levels, today, the Index may try to test 16410-16505, if the Index moves and sustains above 16505 levels then, the pull back rally may take the Index till 16695-16845-16995 levels very soon. On the other hand if, the Index not moves above 16410-16505 levels, further it moves below 16320-16185 levels then, it may try to visit 16035-15940-15600 levels in the near term. Let see, how the Index opens today at 16410-16450-16505 levels. The intra volatility may be in a higher level due today's week-end factor, trade with due caution is my advise at this juncture.

Nifty Bank Index: Nifty Bank index yesterday, opened at 36085.20 on the opening move, it made a day high 36709.15; thereafter, it moved down, made a day low 34991.35 and closed on a negative note at 35228.10 with an intra loss -2163.95 points, i.e., -5.79%, today the Nifty Bank Index must move above 35645-35810 levels; if to do so, then it may try to re-test 36060-36205-36315-36510-36710-36930-37135-37175-37455 levels. On the other hand, any weakness near 35645-35810 or if, moves below 35230-34990 then, the Index may re-visit 34860-34750-34640-34525-34200-34040 levels.

Trading Strategy: The members/followers/readers, those who booked profit near 17500 levels, try to re-invest near 16400-16200-15900 levels in top Nifty100 stocks for a short to medium term perspective to gain 6-9% in the near term.

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.