15.03.22-Tuesday, 8.34 am

Good Morning Members

What has happened yesterday? Nifty Index, contrary to our expectation, opened on a positive note at 16633.70, on opening move, the Index made a day low 16606.50; thereafter, it moved up throughout the day, made a day high 16887.55 and closed at 16871.30 on a positive note with an intra gain 240.85 points, i.e., 1.45%.

What will happen today? 

Nifty Index: Today, the Nifty Index may open on a flat to positive note near 16870-16885-16910 levels; if open, trade and sustain above 16910 then, the index re-test 16940-16965-16985-17030-17075-17099-17135-17170 levels. On the other hand, the immediate support lies at 16845-16805 if, the Index moves below 16805 then, it may try to re-visit 16780-16755-16715-16695-16650-16605-16540-16480-16455-16410 levels.

Special Mention: Yesterday, the Nifty Index continued the pull back rally above 16757.30 levels, made a high 16887.95 and closed well above 16757; today, the Nifty Index may try to move above 16887-16910-16965 levels; if move and sustain above 16965 levels then, the Index try to re-test 17170-17220-17340-17490 levels in the near term. On the other hand, if the Index unable to move above 16887-16910-16965 levels and moves below 16757-16715 levels then, the Nifty Index may re-visit 16605-16470-16280-16135 levels very soon. Let see, how the Index opens today at 16870-16885-16910 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 yesterday, opened at 34660.25, on the opening move, it made a day low 34625.05; thereafter, it moved up, made a day high 35435.10 and closed on a positive note at 35312.15 with an intra gain 765.90 points, i.e., 2.22%, today the Nifty Bank Index must move above 35345-35435 levels; if to do so, then it may try to re-test 35660-35685-35755-35850-35960-36050-36195-36330 levels. On the other hand, any weakness near 35345-35435 if, moves below 35180-35045 then, the Index may re-visit 34935-34880-34815-34720-34625-34510-34400-34250-34095 levels.

Trading Strategy: The members/followers/readers, those who invested near 16900-15700 levels, try to book profit near 16900-17100 levels  or the stocks that you have invested gives profit 9.15% 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.