25.08.22-Thursday, 8.34 am

Good Morning Members

What has happened yesterday? Nifty Index, as expected and written opened on a flat to negative note at 17623.65 on opening move, the Index made a low 17499.25 thereafter, it moved up, made a day high 17623.65 and closed at 17604.95, on a positive note with an intra gain 27.45 points, i.e., 0.16%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a positive note near 17630-17655-17710 levels; if open, trade and sustain above 17655-17710 then, the index may test 17725-17745-17775-17800-17850-17885 levels. On the other hand, the immediate support lies at 17590-17545 if, the Index moves below 17545 then, it may try to re-visit 17525-17495-17460-17420-17380-17345-17300-17265 levels.

Special Mention: Yesterday, the Nifty Index, was consolidating in the narrow range, formed an inside day pattern i.e., without breaking the previous day high or low point and closed well above 17490 levles for three consecutive trading sessions, today the Index must move above 17655-17710 then, it may re-test 17805-17910-17995 levels in the near term. On the other hand, if the Index unable to move above 17655-17710 then, it may try to re-visit 17345-17160-16950 levels in the near term. Let see how the Index opens today at 17625-17655-17710 levels, the intra volatility may be in a high note due to today's F&O expiry and tomorrow's week-end factor hence, trade with due caution at the higher levels is my advise, at this juncture.

Nifty Bank Index: Nifty Bank Index yesterday, opened at 38552.70, on the opening move, it made a day low 38552.20; thereafter, it moved up, made a day high 39120.80 and closed on a positive note at 39038.50 with an intra gain 340.85 points, i.e., 0.88%, today the Nifty Bank Index must move above 39120-39230-39275 levels; if to do so, then it may try to re-test 39370-39460-39555-39760 levels. On the other hand, any weakness near 39120-39230-39275; further, it moves below 39040-38950 then, the Index may re-visit 38870-38775-38680-38620-38555-38375 levels.

Trading Strategy: The members/followers/readers, those who re-invested near 17400-17350 try to book partial profit near 17750-18000 or the stocks given profit 6-9% and wait for the the Nifty to move and close above 18k mark.

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.