14.03.22-Monday, 8.34 am

Good Morning Members

What has happened on Friday? Nifty Index, as expected and written, opened on a negative note at 16828.80, on opening move, the Index made a day low 16470.90; thereafter, it moved up, made a day high 16694.40 and closed at 16630.45 on a positive note with an intra gain 35.55 points, i.e., 0.21%.

What will happen today? 

Nifty Index: Today, the Nifty Index may open on a negative note near 16565-16540-16525 levels; if open, trade and sustain above 16565 then, the index re-test 16610-16630-16665-16695-16725-16755-16775-16815-16840 levels. On the other hand, the immediate support lies at 16480-16440 if, the Index moves below 16440 then, it may try to re-visit 16410-16390-16345-16315-16280-16250-16205-16185-16150-16135-16115-16065-16030-15990 levels.

Special Mention: On Friday, the Nifty Index unable to continue the pull back rally above 16757.30 levels, made an inside day pattern, it either not broken the previous day high or low point and closed well above 16480; today, the Nifty Index may try to take support near 16525-16470-16410 levels; if move and sustain above 16690-16755 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 16690-16755 levels and moves below 16525-16470-16410 levels then, the Nifty Index may re-visit 16205-16000-15710-15670 levels very soon. Let see, how the Index opens today at 16565-16540-16525 levels; this week, the intra volatility may be in a higher level due to short week-end and US Fed Policy meet, trade with due caution avoid aggressive short position is my advice at this juncture.

Nifty Bank Index: Nifty Bank Index on Friday, opened at 34331, on the opening move, it made a day low 34094.30; thereafter, it moved up, made a day high 34880.05 and closed on a positive note at 34546.25 with an intra gain 70.65 points, i.e., 0.20%, today the Nifty Bank Index must move above 34560-34685 levels; if to do so, then it may try to re-test 34775-34805-34880-34935-35005-35095-35200-35375-35550-35690-35860 levels. On the other hand, any weakness near 34560-34685 if, moves below 34485-34395 then, the Index may re-visit 34285-33220-34145-34095-33950-33765-33545-33385-33265-33150-33110-32915 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.