11.04.22-Monday, 08.34 am

Good Morning Members

What has happened on Friday? Nifty Index, opened on a negative note at 17698.15, our expected opening band 17705-17740 on opening move, the Index made a day low 17600.55; thereafter, it moved up, made a day high 17842.75 and closed at 17784.35, on a positive with an intra gain 144.80 points, i.e., 0.82%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a flat to negative note near 17770-17720 levels; if open, trade and sustain above 17770-17795 then, the index re-test 17840-17870-17910-17965-18005-18055 levels. On the other hand, the immediate support lies at 17720-17690, if the Index moves below 17690 then, it may try to re-visit 17655-17625-17600-17585-17535-17505-17465-17420 levels.

Special Mention: On Friday, the Nifty Index continued the downside move and made a low near 17600 and moved up again till 17842 and closed well below 17795; today, the Nifty Index may try to take support 17690-17600 levels; if unable to sustain near 17600 levels; then, the Index tries to re-visit 17425-17235-17135 levels very soon. On the other hand, if the Index able to move above 17795 then, it may try to re-test 17850-18115-18210 levels in the near term. Let see, how the Index opens today at 17770-17720 levels. This week, the Intra volatility may be in a high note, due to long week-end factor, trade with dye caution is my advice at this juncture. 

Nifty Bank Index: Nifty Bank Index on Friday, opened in 37619.70, on the opening move, it made a day low 37405.20; thereafter, it moved up, made a day high 37884.20 and closed on a positive note at 37752.05 with an intra lgain 194.70 points, i.e., 0.70%, today the Nifty Bank Index must move above 37840-37882-37920 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 37840-37882-37920; further, it moves below 37750-37715 then, the Index may re-visit 37680-37515-37350-37205-37175-37025-36960-36890-36670 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.