21.04.22-Thursday, 08.34 am

Good Morning Members

What has happened yesterday? Nifty Index, opened on a positive note 17045.25, our expected opening band 16960-17000, on opening move, the Index moved up and made a day low 16978.95; thereafter, it moved up, made a day high 17186.90 and closed at 17136.95, on a positive with an intra gain 177.90 points, i.e., 1.05%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a positive note near 17185-17245 levels; if open, trade and sustain above 17245 then, the index re-test 17275-17320-17395-17440-17490-17545 levels. On the other hand, the immediate support lies at 17125-17100, if the Index moves below 17100 then, it may try to re-visit 17060-17005-16975-16930-16875-16825 levels.

Special Mention: Yesterday, the Nifty Index tried to take support near 16980 and moved up till 17187 and closed well above 17005; today, the Nifty Index may try to move up above 17275 levels; if able to move and sustain above 17275 levels; then, the Index tries to re-visit 17450-17550-17665 levels in the near term. On the other hand, if the Index unable to move above 17275-17320 then, it may try to re-visit 17000-16825-16700 levels very soon. Let see, how the Index opens today at 17185-17245 levels. The Intra volatility may be in a high note, due to-day's weekly option expiry and tomorrow's week-end factor. 

Nifty Bank Index: Nifty Bank Index yesterday, opened in 36482.60, on the opening move, it made a day low 36114.95; thereafter, it moved up, made a day high 363513.85 and closed on a flat to negative note at 36314.90 with an intra loss -26.70 points, i.e., -0.07%, today the Nifty Bank Index must move above 36415-36620 levels; if to do so, then it may try to re-test 36715-36955-37080-37125-37200-37385-37465-37545 levels. On the other hand, any weakness near 36415-36620; further, it moves below 36265-36115 then, the Index may re-visit 36000-3590-35900-35750-35625-35450 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 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.