08.04.22-Friday, 08.34 am

Good Morning Members

What has happened to yesterday? Nifty Index, opened on a negative note at 17723.50, on opening move, the Index made a day high 17787.50; thereafter, it moved down with a high volatility, made a day low 17623.70 and closed at 17639.55, on a negative with an intra loss -168.10 points, i.e., -0.94%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a positive note near 17705-17740 levels; if open, trade and sustain above 17740 then, the index re-test 17785-17810-17840-17870-17900-17925-17970-18010 levels. On the other hand, the immediate support lies at 17670-17645-17625, if the Index moves below 17625 then, it may try to re-visit 17580-17560-17530-17495-17450-17420 levels.

Special Mention: Yesterday, the Nifty Index continued the downside move below 17000, made a low 17623.70 and closed well below 17000; today, the Nifty Index may try to move above 17000-17740-17795 levels; if unable to sustain near 17795 levels; then, the Index tries to re-visit 17585-17425 levels very soon. On the other hand, if the Index able to move above 17795 then, it may try to re-test 18115-18210-18350 levels in the near term. Let see, how the Index opens today at 17705-17740 levels. The Intra volatility may be in a high note, due to today's week-end factor. 

Nifty Bank Index: Nifty Bank Index yesterday, opened in 37421.75, on the opening move, it made a day high 37975; thereafter, it moved down, made a day low 37346.80 and closed on a negative note at 37557.35 with an intra loss -75.45 points, i.e., -0.20%, today the Nifty Bank Index must move above 37665-37865 levels; if to do so, then it may try to re-test 37975-38055-38125-38225-38350-38475-38600 levels. On the other hand, any weakness near 37665-37865; further, it moves below 37420-37345 then, the Index may re-visit 37205-37175-37025-36840-36690-36540-36445 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 levels 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, visit by using the following link: https://www.niftytech.in/marketupdate/62

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Wishing you for a safe, secured and profitable trading.