10.03.22-Thursday, 8.46 am

Good Morning Members

What has happened yesterday? Nifty Index, contrary to our expectation, opened on a positive note at 16078, on opening move, the Index made a day low 15990; thereafter, it moved up throughout the day, made a day high 16418.05 and closed at 16345.35 on a positive note with an intra gain 331.90 points, i.e., 2.07%.

What will happen today? 

Nifty Index: Today, the Nifty Index may open on a positive note with gap up by tracking the Asian Indices near 16460-16535-16570 levels; if open, trade and sustain above 16570 then, the index re-test 16625-16655-16685-16700-16740-16775-16815-16840-16860 levels. On the other hand, the immediate support lies at 16420-16300 if, the Index moves below 16300 then, it may try to re-visit 16255-16205-16160-16135-16085-16030-15955 levels.

Special Mention: Yesterday, the Nifty Index took support near 15990 levels, the relief rally lifted the Index till 16418 and closed well above 16300; today, the Nifty Index may try to continue the pull back rally till 16500-16700 levels, if sustain above 16700 levels then, the Index may re-test 16850-17000-17170 levels in the near term. On the other hand, if the Index unable to move above 16600-16700 levels and moves below 16400-16200 levels then, the Nifty Index may re-visit 15990-15710-15670 levels very soon. Let see, how the Index opens today at 16460-16535-16570 levels, the intra volatility may be in a higher level due to today's option weekly expiry and tomorrow's week-end factor.

Nifty Bank Index: Nifty Bank Index yesterday, opened at 33278.90, on the opening move, it made a day low 32948.90; thereafter, it moved up, made a day high 33969.50 and closed on a positive note at 33815.45 with an intra gain 561.55 points, i.e., 1.69%, today the Nifty Bank Index must move above 33970-34095-34250 levels; if to do so, then it may try to re-test 34410-34570-34735-34880-35020-35200-35380-35500-35680-35800 levels. On the other hand, any weakness near 33970-34095-34520 if, moves below 33800-33670 then, the Index may re-visit 33550-33460-33340-33190-33070-32950 levels.

Trading Strategy: The members/followers/readers, those who invested near 16900-15700 levels, try to book profit partially near 16500-16800 levels  or the stocks that you have invested give profit 6-10% then book 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

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Wishing you for a safe, secured and profitable trading.