17.03.22-Thursday, 8.42 am

Good Morning Members

What has happened yesterday? Nifty Index, as expected and written, opened on a positive note with gap up at 16876.65, our expected opening band i.e.,16800-16875-16925 levels, on opening move, the Index made a day low 16837.85; thereafter, it moved up, made a day high 16987.90 and closed at 1697.35, on a positive note with an intra gain 312.35 points, i.e., 1.87%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a positive note with gap up by tracking Asian Indices near 17030-17080-17170 levels; if open, trade and sustain above 17170 then, the index re-test 17220-17255-17295-17340-17390-17440 levels. On the other hand, the immediate support lies at 16700-16840 if, the Index moves below 16840 then, it may try to re-visit  16800-16755-16695-16655-16605-16555-16505-16470 levels.

Special Mention: Yesterday, the Nifty Index continued the pull back rally till 16987 levels and closed well above 16885 today, the Nifty Index may try to move above 17030-17170 levels; if move and sustain above 17170 levels then, the Index try to re-test 0-17220-17340-17490 levels in the near term. On the other hand, if the Index unable to move above 17170-17220 levels and moves below 16885-16755 levels then, the Nifty Index may re-visit 16555-16470-16280-16150-16060 levels in the near term. Let see, how the Index opens today at 17030-17080-17170 levels; the intra volatility may be in a higher level due to today's  Option weekly expiry cum long week-end, trade with due caution avoid aggressive short position or long position, is my advice at this juncture.

Nifty Bank Index: Nifty Bank Index yesterday, opened at 35555.75, on the opening move, it made a day low 35461.55; thereafter, it moved up, made a day high 35806.35 and closed on a positive note at 35748.25 with an intra gain 725.60 points, i.e., 2.07%, today the Nifty Bank Index must move above 35900-36050-36195 levels; if to do so, then it may try to re-test 36330-36445-36660-36850 levels. On the other hand, any weakness near 36050-36195 if, moves below 35700-35600 then, the Index may re-visit 3546035300-35150-35050-34880 levels.

Trading Strategy: The members/followers/readers, those who invested near 16900-15700 levels, try to book full profit near 17150-17350 levels  or the stocks that you have invested gives profit 9-15-20% 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.