16.03.22-Wednesday, 8.34 am

Good Morning Members

What has happened yesterday? Nifty Index, as expected and written, opened on a positive note at 16900.35, our expected opening band i.e.,16870-16885-16910 levels, on opening move, the Index made a day high 16927.75; thereafter, it moved down throughout the day, made a day low 16555 and closed at 16663 on a negative note with an intra loss -208.30 points, i.e., -1.23%.

What will happen today? 

Nifty Index: Today, the Nifty Index may open on a positive note with gap up by tracking Asian Indices near 16800-16875-16925 levels; if open, trade and sustain above 16925 then, the index re-test 16975-17000-17030-17080-17099-17115-17135-17170-17220-17255 levels. On the other hand, the immediate support lies at 16755-16710 if, the Index moves below 16710 then, it may try to re-visit 16695-16655-16605-16555-16505-16470-16450-16420 levels.

Special Mention: Yesterday, the Nifty Index continued the pull back rally till 16927 levels, a  brief sell-off dragged the index till 16555 and closed well below 16757; today, the Nifty Index may try to move above 16887-16925 levels; if move and sustain above 16925 levels then, the Index try to re-test 17030-17170-17220-17340-17490 levels in the near term. On the other hand, if the Index unable to move above 16887-16925 levels and moves below 16885-16755 levels then, the Nifty Index may re-visit 16555-16470-16280-16150-16060 levels very soon. Let see, how the Index opens today at 16885-16925 levels; the intra volatility may be in a higher level due to today's US Fed Policy meet, tomorrow's Option weekly expiry cum long week-end, trade with due caution avoid aggressive short position is my advice at this juncture.

Nifty Bank Index: Nifty Bank Index yesterday, opened at 35467.95, on the opening move, it made a day high 35643.80; thereafter, it moved down, made a day low 35022.65 and closed on a negative note at 35312.15 with an intra loss -289.50 points, i.e., -0.82%, today the Nifty Bank Index must move above 35260-35435 levels; if to do so, then it may try to re-test 35640-35685-35725-35805-35960-36050-36195-36330-36445-36660 levels. On the other hand, any weakness near 35260-35435 if, moves below 35065-34960 then, the Index may re-visit 34870-34710-34575-34450-34280-34095 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

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.