24.03.22-Thursday, 8.34 am

Good Morning Members

What has happened yesterday? Nifty Index, as expected and writtten, opened on a positive note at 17405.05, our expected opening band 17425-17450-17495, on opening move, the Index made a day high 17442.40; thereafter, it moved down, made a day low 17199.60 and closed at 17245.65, on a negative note with an intra loss -69.85 points, i.e., -0.40%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on flat to  positive note near 17250-17290-17310 levels; if open, trade and sustain above 17310 then, the index re-test 17350-17370-17395-17415-17440-17475-17505-17550-17595-17640 levels. On the other hand, the immediate support lies at 17225-17200 if, the Index moves below 17200 then, it may try to re-visit 17170-17135-17110-17065-17030-16995-16960-16925 levels.

Special Mention: Yesterday, the Nifty Index continued the pull back rally above 17355, made a high 17442 levels and closed well below 17355 today, the Nifty Index may try to move above 17355-17425 levels; if move and sustain above 17425 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 17355-17425 levels and moves below 17200-17170 levels then, the Nifty Index may re-visit 17000-16800 levels in the near term. Let see, how the Index opens today at 17250-17290-17310 levels; the intra volatility may be in a higher level due to today's  Option weekly expiry and tomorrow's week-end factor, trade with due caution and avoid aggressive short position or long position, is my advice at this juncture.

Nifty Bank Index: Nifty Bank Index yesterday, opened at 36627.70, on the opening move, it made a day high 36827.60; thereafter, it moved down, made a day low 36064.75 and closed on a negative note at 36147.35 with an intra gain -201.20 points, i.e., -0.55%, today the Nifty Bank Index must move above 36350-36445 levels; if to do so, then it may try to re-test 36600-36740-36825-37035-37150-37220-37320-37530-37775 levels. On the other hand, any weakness near 36065-35935 if,moves below 35725-35555 then, the Index may re-visit 35385-35300-35140-34940-34740 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.