02.09.22-Friday, 8.34 am

Good Morning Members

What has happened yesterday? Nifty Index, as expected andwritten opened on a negative note at 17485.70 on opening move, the Index moved up and made a day high 17696.60 thereafter, it moved down, made a day low 17468.45 and closed at 17542.80, on a negative note with an intra loss -216.50 points, i.e., -1.22%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a flat to positive note near 17570-17600 levels; if open, trade and sustain above 17600 then, the index may test 17645-17675-17705-17735-17755-17805-17840 levels. On the other hand, the immediate support lies at 17525-17470 if, the Index moves below 17470 then, it may try to re-visit 17410-17355-17310-17275-17240-17215-17165 levels.

Special Mention: Yesterday, the Nifty Index, unable to move above our threshold resistance levels i.e., 17726, the brief sell-off dragged the Index till 17468 and closed well below 17726 levels, today the Index must move above 17690-17726 then, it may re-test 17777-17910-17995 levels in the near term. On the other hand, if the Index unable to move above 17690-17726 and moves below 17470-17415-17380  then, it may try to re-visit 17345-17260-17166 levels in the near term. Let see how the Index opens today at 17570-17600 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 38806.70, on the opening move, it made a day high 39667.65; thereafter, it moved down, made a day low 38803.60 and closed on a negative note at 39301.25 with an intra loss  -235.50 points, i.e., -0.60%, today the Nifty Bank Index must move above 39390-39480 levels; if to do so, then it may try to re-test 39570-39667-39710-39900-40040-40175 levels. On the other hand, any weakness near 39390-39480 further, it moves below 39235-39000 then, the Index may re-visit 38890-38805-38640-38570-38395-38350 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.