11.03.22-Friday, 8.34 am

Good Morning Members

What has happened yesterday? Nifty Index, as expected and written, opened on a positive note with gap up at 16757.10, on opening move, the Index made a day high 16757.30; thereafter, it moved down, made a day low 16447.90 and closed at 16594.90 on a positive note with an intra gain 249.55 points, i.e., 1.53%.

What will happen today? 

Nifty Index: Today, the Nifty Index may open on a negative note near 16525-15480-15440 levels; if open, trade and sustain above 16525 then, the index re-test 16565-15600-15625-16660-16695-16725-16755-16775-16815-16840 levels. On the other hand, the immediate support lies at 16440-16390-16365 if, the Index moves below 16365 then, it may try to re-visit 16340-16310-16280-16250-16215-16185-16150-16135-16115-16085-16030 levels.

Special Mention: Yesterday, the Nifty Index continued the pull back rally till 16757.30 levels and closed well above 16480; today, the Nifty Index may try to take support near 16445-16410 levels and move & sustain above 16600-16750 levels then, the Index try to re-test 16850-17000-17170 levels in the near term. On the other hand, if the Index unable to move above 16560-16750 levels and moves below 16445-16410 levels then, the Nifty Index may re-visit 16030-15710-15670 levels very soon. Let see, how the Index opens today at 16525-15480-15440 levels, the intra volatility may be in a higher level due to today's week-end factor.

Nifty Bank Index: Nifty Bank Index yesterday, opened at 35153.95, on the opening move, it made a day high 35374.15; thereafter, it moved down, made a day low 34218.05 and closed on a positive note at 34475.60 with an intra gain 660.15 points, i.e., 1.95%, today the Nifty Bank Index must move above 34560-34685-34800 levels; if to do so, then it may try to re-test 34930-35035-35200-35375-35550-35690-35800 levels. On the other hand, any weakness near 34560-34685-34800 if, moves below 34430-34290-34220 then, the Index may re-visit 34145-33950-33765-33570-33385-33265 levels.

Trading Strategy: The members/followers/readers, those who invested near 16900-15700 levels, try to book profit partially near 16600-16800 levels  or the stocks that you have invested gives 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.