04.03.22-Friday, 8.34 am

Good Morning Members

What has happened yesterday? Nifty Index, as expected and written, opened on a positive at 16723.20, our expected opening band i.e.,16640-16675, on opening move, the Index made a day high 16768.95; thereafter, it moved down, made a day low 16442.95 and closed at 16498.05 on a negative note with an intra loss -107.90 points, i.e., -0.65%.

What will happen today? 

Nifty Index: Today, the Nifty Index may open on a negative with gap down note near 16350-16275-16210 levels; if open, trade and sustain below 16275-16210 then, the index re-visit 16185-16165-16130-16100-16070-16035-16000-15970 levels. On the other hand, the immediate resistance seen at 16410-16445 if, the Index moves above 16445 then, it may try to re-test 16510-16545-16580-16610-16635-16660-16685-16715-16745-16770 levels.

Special Mention: Yesterday, the Nifty Index was trading in a range bound and unable to continue the upward rally, the sell-off dragged the Index till 16442.95 and closed well above 16600 levels; today, the Nifty Index may try to take support near 16360-16275-16210 levels; if, the Index trades and sustain above 16410-16475 levels then, the Index may re-test 16680-16770-16845-16995 levels in the near term. On the other hand, if the Index moves below 16275-16210 then, the Nifty Index may re-visit 16035-15950-15790 levels very soon. Let see, how the Index opens today at 16350-16275-16210 levels, the intra volatility may be in a higher level due to the prevailing geo-politcal tension and today's week-end factor, trade with due caution is my advise at this juncture.

Nifty Bank Index: Nifty Bank Index yesterday, opened at 35621.15, on the opening move, it made a day high 35804.15; thereafter, it moved down, made a day low 34721.15 and closed on a negative note at 34944.20 with an intra loss -428.60 points, i.e., -1.21%, today the Nifty Bank Index must move above 35135-35260 levels; if to do so, then it may try to re-test  35390-35485-35575-35680-35810-36065-36315-36450-36630 levels. On the other hand, any weakness near 35135-35260 if, moves below 35225-35150 then, the Index may re-visit 34720-34650-34500-34350-34295-34200-34020-33930-33760-33600-33500 levels.

Trading Strategy: The members/followers/readers, those who booked profit near 17500 levels, try to re-invest near 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

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.