18.04.22-Monday, 08.34 am

Good Morning Members

What has happened on wedneday? Nifty Index, opened on a positive note at 17599.90, our expected opening band 17550-17595 on opening move, the Index moved up and made a day high 17663.65; thereafter, it moved down, made a day low 17457.40 and closed at 17475.65, on a negative with an intra loss -54.65 points, i.e., -0.31%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a negative note with a gap down by tracking the Asian Indices near 17455-17400-17345 levels; if open, trade and sustain above 17455 then, the index re-test 17530-17605-17665-17700-17740-17790-17845-17875 levels. On the other hand, the immediate support lies at 17345-17265, if the Index moves below 17265 then, it may try to re-visit 17220-17180-17110-17075-17040-17005-16945-16890 levels.

Special Mention: On Wednesday, the Nifty Index tried to continue the upward move and got sold-off till 17457 and closed well below 17600; today, the Nifty Index may try to take support 17350-17260 levels; if unable to sustain at 17260 levels; then, the Index tries to re-visit 17005-16890-16555 levels very soon. On the other hand, if the Index able to move above 17445-17665 then, it may try to re-test 17840-18115 levels in the near term. Let see, how the Index opens today at 17455-17400-17345 levels. This week, the Intra volatility may be in a high note, due to golobal cues and India Inc Q4 corporate results. 

Nifty Bank Index: Nifty Bank Index on wednesday, opened in 37887.30, on the opening move, it made a day high 37988.60; thereafter, it moved down, made a day low 37408.20 and closed on a negative note at 37643.40 with an intra loss -284 points, i.e., -0.31%, today the Nifty Bank Index must move above 37630-37820 levels; if to do so, then it may try to re-test 37985-38140-38230-38325-38385-38445-38520-38595 levels. On the other hand, any weakness near 37630-37820; further, it moves below 37400-37265 then, the Index may re-visit 37110-36890-36670-36450-36175-35900 levels.

Trading Strategy: The members/followers/readers, those who booked profit at 18000-18100 levels, try to re-invest in Nifty50 stocks at 17300-17000 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.