18.08.22-Thursday, 8.34 am

Good Morning Members

What has happened yesterday? Nifty Index, opened on a positive note with a gap up at 17868.15, on opening move, the Index made a low 17833.35, thereafter, it moved up, made a day high 17965.95 and closed at 17944.25, on a positive note with an intra gain 119 points, i.e., 0.67%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a flat to positive note near 17945.17965-17995 levels; if open, trade and sustain above 17995-18000 then, the index may test 18030-18065-18095-18115-18130 levels. On the other hand, the immediate support lies at 17915-17865 if, the Index moves below 17865 then, it may try to re-visit 17835-17800-17780-17745-17685-17640-17595 levels.

Special Mention: Yesterday, the Nifty Index, continued the northward journey and nearing the psychological resistance zone 18000-18115, made high a 17965 and closed near day high, if the Index closes above 18k for three continuous trading sessions then, it may re-test 18115-18350-18600 levels in the near term. On the other hand, if the Index unable to move above 18000-18115  then, it may try to re-visit 17700-17400 levels in the near term. Let see, how the Index opens today at 17945-17965-17995 levels, the intra volatility may be in a high note due to today's weekly option expiry and tomorrow's week-end factor, further the index trading at the higher levels, trade with due caution at the higher levels is my advise, at this juncture and wait for a meaningful price correction till 17400-17150-16950 levels in Nifty Index, to invest in Equity segment.

Nifty Bank Index: Nifty Bank Index yesterday, opened at 39351.30, on the opening move, it made a day low 39202.80; thereafter, it moved up, made a day high 39504.50 and closed on a positive note at 39461.70 with an intra gain 222.05 points, i.e., 0.57%, today the Nifty Bank Index must move above 39505-39585 levels; if to do so, then it may try to re-test 39670-39760-39890-40000 levels. On the other hand, any weakness near 39505-39585; further, it moves below 39440-39370 then, the Index may re-visit 39275-39205-39120-38920-38830 levels.

Trading Strategy: The members/followers/readers, those who re-invested near 15350-15200 try to book full profit near 17900-18115 or the stocks given profit 18-24% and wait for the price correction if, any near 16950-16750 levels in the Nifty Index.

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.