27.04.22-Wednesday-8.34 am

Good Morning Members

What has happened on Friday? Nifty Index, as expected and written opened on a positive note with gap up  at 17121.30, our expected opening band 17095-171215 on opening move, the Index made a day low 17064.45: thereafter, it moved up, made a day high 17223.85 and closed at 17200.80, on a positive note with an intra gain 246.85 points, i.e., 1.46%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a negative note with a gap down by tracking Asian Indices near 17055-17020 levels; if open, trade and sustain above 17055 then, the index may re-test 17105-17125-17145-17175-17225-17265-17315 levels. On the other hand, the immediate support lies at 17055-17005-16965, if the Index moves below 16965 then, it may try to re-visit 16930-16890-16825-16750 levels.

Special Mention: Yesterday, the Nifty Index moved up and closed very well above 17050 at 17200.60, today, the Nifty Index may try to take support near 17050-16965 if, moves up and sustain above 17225-17315 levels; then, the Index tries to re-test 17450-17550-17665 levels in the near term. On the other hand, if the Index unable to take support 17055-17025 then, it may try to re-visit 16895-16825-16750 levels very soon. Let see, how the Index opens today at 17055-17025 levels. The Intra volatility may be in a high note, due to tomorrow's F&O expiry and Friday's week-end factor. 

Nifty Bank Index: Nifty Bank Index yesterday, opened in 36515.35, on the opening move, it made a day low 36265.90; thereafter, it moved up, made a day high 36604.55 and closed on a positive note at 36404.80 with an intra gain 322.45 points, i.e., 0.89%, today the Nifty Bank Index must move above 36510-36605 levels; if to do so, then it may try to re-test 36690-36750-36915-37120-37265 levels. On the other hand, any weakness near 36510-36605; further, it moves below 35365-36290 then, the Index may re-visit 36200-36115-36050-35925-35780-35640-35515 levels.

Trading Strategy: The members/followers/readers, those who bouhgt near 16800 levels, try to book parial profit neear 17400-17660 in Nifty50  levels or the stock that your have bought gives profit 5-9% then book the partial profit.

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.