04.05.22-Wednesday-8.34 am

Good Morning Members

What has happened on Monday? Nifty Index, as expected and written opened on a negative note with gap down at 16924.45, our expected opening band 17005-16960-16880 on opening move, the Index made a day low 16917.25: thereafter, it moved up, made a day high 17092.25 and closed at 17069.10, on a negative note with an intra loss -33.45 points, i.e., -0.20%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a flat to positive note near 17070-17090-17120 levels; if open, trade and sustain above 17120 then, the index may re-test 17140-17175-17200-17225-17240-17280-17305-17325-17355-17375 levels. On the other hand, the immediate support lies at 17040-16985, if the Index moves below 16985 then, it may try to re-visit 16955-16917-16890-16870-16825-16750-16680-16605 levels.

Special Mention: On Monday, the Nifty Index though it moved down till 16917 and able to take support at 16917 and moved  up and closed well above 17040, today, the Nifty Index may try to take support near 17040-16985 if, moves up and sustain above 17090-17140 levels; then, the Index tries to re-test 17375-17450-17550 levels in the near term. On the other hand, if the Index unable to take support 17040-16985 then, it may try to re-visit 16920-16825-16605 levels very soon. Let see, how the Index opens today at 17070-17090-17120 levels. The Intra volailtiy may be in a high note, due to tomorrow's option expiry and Friday's week-end factor. 

Nifty Bank Index: Nifty Bank Index on Monday, opened in 35627.60, on the opening move, it made a day low 35618.20; thereafter, it moved up, made a day high 36235.25 and closed on a positive note at 36163.75 with an intra gain 75.60 points, i.e., 0.21%, today the Nifty Bank Index must move above 36235-36405 levels; if to do so, then it may try to re-test 36500-36635-36750-36910-36750-36920-37098-37230 levels. On the other hand, any weakness near 36235-36405; further, it moves below 36055-35900 then, the Index may re-visit 35850-35760-35620-35510 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

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Wishing you for a safe, secured and profitable trading.