06.04.22-Wednesday, 08.34 am

Good Morning Members

What has happened on yesterday? Nifty Index, opened on a positive note at 18080.60, on opening move, the Index made a day high 18095.45; thereafter, it moved down, made a day low 17921.55 and closed at 17957.40, on a negative with an intra loss -96.00 points, i.e., -0.53%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a negative note near 17920-17875-17850 levels; if open, trade and sustain above 17920 then, the index re-test 17960-17985-18030-18055-18095-18115-18145-18170 levels. On the other hand, the immediate support lies at 17850-17810, if the Index moves below 17810 then, it may try to re-visit 17795-17765-17730-17705-17685-17635 levels.

Special Mention: Yesterday, the Nifty Index unable to continue the upward move above 18115-18125 and closed well above 17795; today, the Nifty Index may try to take support 17850-17795 levels; if move and sustain below 17795 levels then, the Index try to re-visit 17700-17585-17445 levels in the near term. On the other hand, if the Index able to take support 17850-17795 levels and moves above 18027-18115 levels then, the Nifty Index may test 18210-18350 levels in the near term. Let see, how the Index opens today at 17920-17875-17850 levels. The Intra volatiliy may be in a high note, due to tomorrow's weekly option expiry and Friday's week-end factor. 

Nifty Bank Index: Nifty Bank Index yesterday, opened at 38731.30, on the opening move, it made a day high 38759.25; thereafter, it moved up, made a day low 37935.95 and closed on a negative note at 38067.90 with an intra loss -567.30 points, i.e., -1.47%, today the Nifty Bank Index must move above 38250-38410 levels; if to do so, then it may try to re-test 38520-38595-38625-38765-38985-39290 levels. On the other hand, any weakness near 38250-38410; further, it moves below 38035-37935 then, the Index may re-visit 37710-37505-37355-37205-37025 levels.

Trading Strategy: The members/followers/readers, those who booked profit at 18000-18100 levels, try to re-invest in Nifty50 stocks at 17500 levles on a short to medium term perspective to gain 5-10% return.

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.