23.03.22-Wednesday, 8.54 am

Good Morning Members

What has happened yesterday? Nifty Index, opened on a flat to positive note at 17120.40, on opening move, the Index made a day low 17006.30; thereafter, it moved up, made a day high 17334.40 and closed at 17315.50, on a positive note with an intra gain 340.15 points, i.e., 2%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a positive note with gap up by tracking Asian Indices near 17425-17450-17495 levels; if open, trade and sustain above 17495 then, the index re-test 17520-17555-17595-17640-17690-17740-17795 levels. On the other hand, the immediate support lies at 17350-17300 if, the Index moves below 17300 then, it may try to re-visit 17275-17255-17210-17175-17140-17100-17065-17030-17005-16985 levels.

Special Mention: Yesterday, the Nifty Index continued the pull back rally near to the recent high i.e., 17350 levels and closed well above 17285 today, the Nifty Index may try to move above 17425-17445 levels; if move and sustain above 17445 levels then, the Index try to re-test 17550-17650-17795 levels in the near term. On the other hand, if the Index unable to move above 17425-17495 levels and moves below 17350-17240 levels then, the Nifty Index may re-visit 17175-17000-16800 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 tomorrow's  Option weekly expiry and Friday's week-end factor, 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 35975.60, on the opening move, it made a day low 35384.75; thereafter, it moved up, made a day high 36468.80 and closed on a positive note at 36348.55 with an intra gain 600.30 points, i.e., 1.68%, today the Nifty Bank Index must move above 36470-36610-36650 levels; if to do so, then it may try to re-test 36760-36970-37150-37295-37320-37530-37775 levels. On the other hand, any weakness near 36650-36760 if,moves below 36260-35900 then, the Index may re-visit 35800-35640-35510-35385-35090 levels.

Trading Strategy: The members/followers/readers, those who invested near 16900-15700 levels, try to book full profit near 17440-17790 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.