02.05.22-Monday-8.20 am

Good Morning Members

What has happened on Friday? Nifty Index, as expected and written opened on a positive note with gap up at 17329.25, our expected opening band 17325-17350 on opening move, the Index made a day high 17377.85: thereafter, it moved down, made a day low 17053.85 and closed at 17102.55, on a negative note with an intra loss -142.50 points, i.e., -0.83%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a negative note with a gap down near 17005-16960-16880 levels; if open, trade and sustain above 17005 then, the index may re-test 17055-17105-17125-17145-17175-17225-17285-17340-17375-17415 levels. On the other hand, the immediate support lies at 16890-16825, if the Index moves below 16825 then, it may try to re-visit 16750-16725-16685-16645-16605 levels.

Special Mention: On Friday, the Nifty Index though it moved up  till 17377 but unable to sustain above 17320, the last hour weakness dragged the Index till 17053 and closed very well  below 17275 i.e., 17102.55, today, the Nifty Index may try to take support near 17005-16960-16880 if, moves up and sustain above 17175-17290 levels; then, the Index tries to re-test 17375-17450-17550-17665 levels in the near term. On the other hand, if the Index unable to take support 17005-16880 then, it may try to re-visit 16825-16605-16420 levels very soon. Let see, how the Index opens today at 17005-17960-16880 levels.  

Nifty Bank Index: Nifty Bank Index on Friday, opened in 36189.95, on the opening move, it made a day high 36718.80; thereafter, it moved down, made a day low 35978.95 and closed on a negative note at 36088.15 with an intra loss -310.50 points, i.e., -0.85%, today the Nifty Bank Index must move above 36270-36500 levels; if to do so, then it may try to re-test 36635-36750-36910-36750-36920-37098-37230 levels. On the other hand, any weakness near 36500-36270; further, it moves below 35980-35785 then, the Index may re-visit 35655-35510-35330-35020 levels.

Trading Strategy: The members/followers/readers, can re-invest partially in Nifty100 stocks when the Nifty Index testing 16800-16600 on a medium term perspective to gain 6-10% 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

For further details please do call us on 98410 48022 or contact thro' WhatsApp: 99624 70636. Please read carefully, the Disclaimer published in the Disclaimer page.

Wishing you for a safe, secured and profitable trading.