20.04.22-Wednesday, 08.34 am

Good Morning Members

What has happened yesterday? Nifty Index, opened on a positive note 17258.75, our expected opening band 17200-17235-17285, on opening move, the Index moved up and made a day high 17275.65; thereafter, it moved down, made a day low 16824.70 and closed at 16958.65, on a negative with an intra loss -215 points, i.e., -1.25%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a flat to positive note near 16960-17000 levels; if open, trade and sustain above 17000 then, the index re-test 17065-17105-17145-17180-17225-17275-17320-17395 levels. On the other hand, the immediate support lies at 16875-16825, if the Index moves below 16825 then, it may try to re-visit 16755-16705-16655-16605-16555 levels.

Special Mention: Yesterday, the Nifty Index continued the down move and tested 16824.70 and closed well below 17005; today, the Nifty Index may try to take support 16950-16815 levels; if able to move and sustain above 17005 levels; then, the Index tries to re-visit 17165-17275-17450 levels in the near term. On the other hand, if the Index unable to move above 17165-17275 then, it may try to re-visit 16700-16500-16200 levels very soon. Let see, how the Index opens today at 16960-17000 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 36806.80, on the opening move, it made a day high 37123.55; thereafter, it moved down, made a day low 35926.30 and closed on a negative note at 36341.60 with an intra loss -387.40 points, i.e., -1.05%, today the Nifty Bank Index must move above 36455-36525 levels; if to do so, then it may try to re-test 36665-36715-36955-37080-37125-37200-37385 levels. On the other hand, any weakness near 36455-36525; further, it moves below 36210-35900 then, the Index may re-visit 35770-35600-35505-35450-450-35205-35020 levels.

Trading Strategy: The members/followers/readers, those who booked profit at 18000-18100 levels, try to re-invest in Nifty50 stocks at 17000-16800-16550 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.