26.08.22-Friday, 8.34 am

Good Morning Members

What has happened yesterday? Nifty Index, as expected and written opened on a positive note at 17679 on opening move, the Index made a high 17726.50 thereafter, it moved down, made a day low 17487.45 and closed at 17522.45, on a negative note with an intra loss -82.50 points, i.e., -0.47%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a positive note near 17625-17655-17690 levels; if open, trade and sustain above 17690-17710 then, the index may test 17740-17775-17805-17825-17850-17885 levels. On the other hand, the immediate support lies at 17615-17550 if, the Index moves below 17550 then, it may try to re-visit 17515-17490-17460-17420-17390-17345-17300-17265-17215 levels.

Special Mention: Yesterday, the Nifty Index, continued the northward journey and formed a high point 17726, the last hor sell-off dragged once again near our threshold support level i.e, 17490 and closed well above 17490 levles, today the Index must move above 17655-17710-17730 then, it may re-test 17805-17910-17995 levels in the near term. On the other hand, if the Index unable to move above 17655-17710-17730 then, it may try to re-visit 17345-17160-16950 levels in the near term. Let see how the Index opens today at 17625-17655-17690 levels, the intra volatility may be in a high note due to today'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 39190.95, on the opening move, it made a day high 39471.75; thereafter, it moved down, made a day low 38803.70 and closed on a negative note at 38950.75 with an intra loss -87.75 points, i.e., -0.22%, today the Nifty Bank Index must move above 39120-39315 levels; if to do so, then it may try to re-test 39465-39540-39635-39740-39865 levels. On the other hand, any weakness near 39120-39315; further, it moves below 38910-38805 then, the Index may re-visit 38710-38555-38375-38250-38130 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

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.