28.02.22-Monday, 8.46 am

Good Morning Members

What has happened on Friday? Nifty Index, as expected and written, opened on a positive note with gap up at 16515.65, our expected opening band i.e.,16410-16450-14505, on opening move, the Index made a day low 16478.30; thereafter, it moved up, made a day high 16748.80 and closed at 16658.40 on a positive note with an intra gain 410.45 points, i.e., 2.53%.

What will happen today? 

Nifty Index: Today, the Nifty Index may open on a negative note near 16610-16585-16540 levels; if open, trade and sustain above 16610 then, the index re-test 16650-16685-16710-16750-16820-16845 levels. On the other hand, the immediate support lies at 16480-16410 if, the Index moves below 16410 then, it may try to re-visit 16370-16330-16300-16270-16235-16205-16185-16100-16050-16000 levels.

Special Mention: On Friday, the Nifty Index took support, the relief rally took the Index near 16750 and closed well above 16410 levels; but, it looks today, the Nifty Index may come down till 16585-16410 levels;  if, the Index trades and sustain below 16410 levels then, the sell-off intensified to re-visit the recent low near 16200, further weakness below 16200-16185, the Nifty Index may visit 16000-15885-15600 levels very soon. On the other hand if, the Index takes support near 16585-16410 and moves above 16475-16540 levels then, it may try to re-test 16585-16680-16750-16820 levels in the near term. Let see, how the Index opens today at 16610-16585-16540 levels. The intra volatility may be in a higher level due to the prevailing geo-politcal tension, today's month-end factor and tomorrow's trading holiday on account of Mahasivrathri, trade with due caution is my advise at this juncture.

Nifty Bank Index: Nifty Bank index on Friday, opened at 35901.70 on the opening move, it made a day low 35768.20; thereafter, it moved up, made a day high 36684.65 and closed on a positive note at 36430.75 with an intra gain 1202.65 points, i.e., 3.41%, today the Nifty Bank Index must move above 36485-36580 levels; if to do so, then it may try to re-test 36730-36930-37135-37175-37455 levels. On the other hand, any weakness near 36485-36580 or if, moves below 36360-36220 then, the Index may re-visit 36065-35960-35860-35760-35655-35525-35400-35305-35200-35110-34990 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.