07.04.22-Thursday, 08.34 am

Good Morning Members

What has happened on yesterday? Nifty Index, opened on a negative note at 17842.75, on opening move, the Index made a day low 17779.45; thereafter, it moved up, made a day high 17901, further moved down till day low and closed at 17807.65, on a negative with an intra loss -149.65 points, i.e., -0.83%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a flat to negative note near 17805-17779-177745 levels; if open, trade and sustain above 17805 then, the index re-test 17835-17870-17905-17940-17965-18000-18035 levels. On the other hand, the immediate support lies at 17780-17745, if the Index moves below 17745 then, it may try to re-visit 17705-17685-17635-17585-17545-17505 levels.

Special Mention: Yesterday, the Nifty Index continued the down side move below 17795, made a low 17779 and closed well above 17795; today, the Nifty Index may try to move down and takes support near 17745-17700 levels; if unable to sustain near 17700 levels; then, the Index try to re-visit 17585-17445 levels very soon. On the other hand, if the Index able to take support near 17745-17700 and moves above 17795 levels then, it may try to re-test 18115-18210-18350 levels in the near term. Let see, how the Index opens today at 17805-17779-17745 levels. The Intra volatiliy may be in a high note, due to today's weekly option expiry and tomorrow's week-end factor. 

Nifty Bank Index: Nifty Bank Index yesterday, opened at 37711.30, on the opening move, it made a day high 37868.50; thereafter, it moved down, made a day low 37513.85 and closed on a negative note at 37632.80 with an intra loss -435.10 points, i.e., -1.14%, today the Nifty Bank Index must move above 37650-37765 levels; if to do so, then it may try to re-test 37865-37965-38025-38125-38225-38350-38475 levels. On the other hand, any weakness near 37650-37765; further, it moves below 37555-37500 then, the Index may re-visit 37415-37355-37205-37025-36840-36690-36540 levels.

Trading Strategy: The members/followers/readers, those who booked profit at 18000-18100 levels, try to re-invest partially in Nifty50 stocks at 17700-17500 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.