30.03.22-Wednesday, 08.34 am

Good Morning Members

What has happened yesterday? Nifty Index, as expected and written, opened on a positive note with gap up at 17297.20, our expected opening band 17295-17340-17370, on opening move, the Index made a day low 17235.70; thereafter, it moved up, made a day high 17343.65 and closed at 17325.30, on a positive note with an intra gain 103.30 points, i.e., 0.60%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a positive note with a gap up near 17395-17445-17495 levels; if open, trade and sustain above 17495 then, the index re-test 17520-17550-17585-17620-17650-17680-17710-17740-17795 levels. On the other hand, the immediate support lies at 17340-17310 if, the Index moves below 17310 then, it may try to re-visit 17270-17235-17200-17170-17130-17080-17040-17000 levels.

Special Mention: Yesterday, the Nifty Index unable to continue the pull back rally above 17355, made a low 17235 levels and closed well below 17355; today, the Nifty Index may try to move above 17355-17445 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 17445-17550 levels and moves below 17270-17235 levels then, the Nifty Index may re-visit 17000-16735 levels in the near term. Let see, how the Index opens today at 17395-17445-17495 levels. The Intra volatiliy may be in a high note, due to tomorrow's F&O Expiry and month-cum-quarterly end factor, try to avoid aggressive long or short position till this week-end. 

Nifty Bank Index: Nifty Bank Index yesterday, opened at 35931.75, on the opening move, it made a day high 35977.20; thereafter, it moved down, made a day low 35506.55 and closed on a positive note at 35847.40 with an intra gain 136.90 points, i.e., 0.38%, today the Nifty Bank Index must move above 35975-36020-36105 levels; if to do so, then it may try to re-test 36215-36295-36370-36440-36530-36620-36720-36825-36970 levels. On the other hand, any weakness near 36020-36105; further, it moves below 35840-35705 then, the Index may re-visit 35565-35505-35445-35380-35230-35015-34810-34740-34580-34450 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.