01.09.22-Thursday, 8.34 am

Good Morning Members

What has happened on Tuesday? Nifty Index, opened on a negative note with gap up at 17414.95 on opening move, the Index made a day low 17401.50 thereafter, it moved up, made a day high 17777.65 and closed at 17759.30, on a positive note with an intra gain 446.40 points, i.e., 2.58%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a negative note near 17485-17445 levels; if open, trade and sustain above 17485-17545 then, the index may test 17600-17645-17685-17705-17735-17775-17805-17840 levels. On the other hand, the immediate support lies at 17400-17380 if, the Index moves below 17380 then, it may try to re-visit 17345-17310-17275-17240-17215-17165 levels.

Special Mention: On Tuesday, the Nifty Index, continued the northward journey beyond the threshold reistance levels i.e., 17726, made a high 17777.65 a0d closed well above 17726 levles, today the Index must move above 17775-17850 then, it may re-test 17910-17995 levels in the near term. On the other hand, if the Index unable to move above 17775-17850 and moves below 17485-17400-17380  then, it may try to re-visit 17345-17260-17166 levels in the near term. Let see how the Index opens today at 17485-17445 levels, the intra volatility may be in a high note due to today's Option weekly 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 on Tuesday, opened at 38516.95, on the opening move, it made a day low 38472.70; thereafter, it moved up, made a day high 39606.55 and closed on a positive note at 39536.75 with an intra gain 1260.05 points, i.e., 3.29%, today the Nifty Bank Index must move above 39606-39760 levels; if to do so, then it may try to re-test 39915-40040-40175 levels. On the other hand, any weakness near 39606-39760 further, it moves below 39185-39040 then, the Index may re-visit 38930-38740-38600-38470 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.