13.04.22-Wednsday, 08.34 am

Good Morning Members

What has happened yesterday? Nifty Index, opened on a negative note at 17584.85, our expected opening band 17650-17600 on opening move, the Index made a day low 17442.35; thereafter, it moved up, made a day high 17595.30 and closed at 17530.3, on a negative with an intra loss -144.65 points, i.e., -0.82%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a flat to positive note near 17550-17595 levels; if open, trade and sustain above 17595-17635 then, the index re-test 17695-17740-17780-17820-17855-17885-17915-17970-17985-18005-18040 levels. On the other hand, the immediate support lies at 17500-17480, if the Index moves below 17480 then, it may try to re-visit 17445-17400-17350-17305-17265-17235 levels.

Special Mention: Yesterday, the Nifty Index continued the downtrend and made a low near our threshold support levels i.e., 17445 and closed well below 17600; today, the Nifty Index may try to take support 17500-17440 levels; if unable to sustain near 17440 levels; then, the Index tries to re-visit 17345-17265-17005 levels very soon. On the other hand, if the Index able to move above 17600-17650 then, it may try to re-test 17840-18115-18210 levels in the near term. Let see, how the Index opens today at 17550-17595 levels. Today, the Intra volatility may be in a high note, due to long week-end factor, trade with due caution is my advice at this juncture. 

Nifty Bank Index: Nifty Bank Index yesterday, opened in 37407.40, on the opening move, it made a day low 37264.45; thereafter, it moved up, made a day high 37920.60 and closed on a positive note at 37747.40 with an intra gain 133.60 points, i.e., 0.36%, today the Nifty Bank Index must move above 37835-37930 levels; if to do so, then it may try to re-test 38015-38100-38190-38260-38325-38385-38445-38520-38595 levels. On the other hand, any weakness near 37835-37930; further, it moves below 37515-37420 then, the Index may re-visit 37354-37265-37180-37085-36960-36890-36670-36450 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.