06.09.22-Tuesday, 8.34 am

Good Morning Members

What has happened yesterday? Nifty Index, opened on a flat note at 17546.45 on opening move, the Index made a day low 17540.35; thereafter, it moved up, made a day high 17683.15 and closed at 17665.80, on a positive note with an intra gain 116.35 points, i.e., 0.66%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a flat to positive note near 17680-17725 levels; if open, trade and sustain above 17725 then, the index may test 17740-17775-17815-17855-17895 levels. On the other hand, the immediate support lies at 17665-17640 if, the Index moves below 17640 then, it may try to re-visit 17610-17575-17540-17505-17470-17410 levels.

Special Mention: Yesterday, the Nifty Index, was consolidation for the last three trading sessions, not breaking the threshold resistance i.e., 17777 or support levels i.e., 17401 and closed near the important resistance levels i.e., 17665 levels, today the Index must move above 17725-17777 then, it may re-test 17910-17995 levels in the near term. On the other hand, if the Index unable to move above 17725-17777 and moves below 17540-17400  then, it may try to re-visit 17345-17260-17166 levels in the near term. Let see how the Index opens today at 17680-17725 levels, trade with due caution at the higher levels is my advise, at this juncture.

Nifty Bank Index: Nifty Bank Index yesterday, opened at 39412.05, on the opening move, it made a day low 39407.40; thereafter, it moved up, made a day high 39865.20 and closed on a positive note at 39805.75 with an intra gain 384.75 points, i.e., 0.98%, today the Nifty Bank Index must move above 39865-39999 levels; if to do so, then it may try to re-test 40090-40250-40450-40720 levels. On the other hand, any weakness near 39865-39999 further, it moves below 39755-39660 then, the Index may re-visit 39515-39410-39280-39200-38870 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.