19.04.22-Tuesday, 08.34 am

Good Morning Members

What has happened yesterday? Nifty Index, opened on a negative note with a gap down at 17183.45, our expected opening band 17455-17400-17355, on opening move, the Index moved up and made a day high 17237.75; thereafter, it moved down, made a day low 17067.05 and closed at 17173.65, on a negative with an intra loss -302 points, i.e., -1.73%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a flat to positive note near 17200-17235-17285 levels; if open, trade and sustain above 17285 then, the index re-test 17315-17345-17390-17440-17465-17530-17560-17590-17663-17715 levels. On the other hand, the immediate support lies at 17165-17130, if the Index moves below 17130 then, it may try to re-visit 17105-17067-17020-17005-16945-16890-16820-16750 levels.

Special Mention: Yesterday, the Nifty Index continued the down move and tested 17067 and closed well below 17450; today, the Nifty Index may try to take support 17160-17005 levels; if unable to sustain at 17005 levels; then, the Index tries to re-visit 16890-16555 levels very soon. On the other hand, if the Index able to move above 17265-17285 hen, it may try to re-test 17450-17665-17840 levels in the near term. Let see, how the Index opens today at 17200-17235-17285 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 yesterday, opened in 36833.15, on the opening move, it made a day high 36965.85; thereafter, it moved down, made a day low 36441.35 and closed on a negative note at 36729 with an intra loss -734 points, i.e., -1.96%, today the Nifty Bank Index must move above 36810-36900-36965 levels; if to do so, then it may try to re-test 37035-37125-37215-37305-37395-37460-37540-37660-37810 levels. On the other hand, any weakness near 36810-36900-36965; further, it moves below 36640-36565 then, the Index may re-visit 36440-36300-36175-35900-35770 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.