07.09.22-Wednesday, 8.34 am

Good Morning Members

What has happened yesterday? Nifty Index, as expected and written opened on a flat to positive note at 17695.70, our expected opening band is 17680-17725, on opening move, the Index made a day low 17587.85; thereafter, it moved up, made a day high 17764.85 and closed at 17655.60, on a flat to negative note with an intra loss -10.20 points, i.e., .0.06%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a negative note near 17540-17485 levels; if open, trade and sustain above 17540 then, the index may test 17585-17630-17675-17710-17745-17765-17815 levels. On the other hand, the immediate support lies at 17445-17400 if, the Index moves below 17400 then, it may try to re-visit 17380-17345-17307-17270-17235 levels.

Special Mention: Yesterday, the Nifty Index, was consolidation for the last four 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., 17765 levels, today the Index must move above 17777-17815 then, it may re-test 17910-17995 levels in the near term. On the other hand, if the Index unable to move above 17680-17777 and moves below 17485-17400 then, it may try to re-visit 17345-17260-17166 levels in the near term. Let see how the Index opens today at 17540-17485 levels, the intra volatility may be in high note due to tomorrrow's weekly option expiry, trade with due caution at the higher levels is my advise, at this juncture.

Nifty Bank Index: Nifty Bank Index yesterday, opened at 39892.95, on the opening move, it made a day high 40073.75; thereafter, it moved down, made a day low 39564.30 and closed on a negative note at 39666.50 with an intra loss -139.25 points, i.e., -0.35%, today the Nifty Bank Index must move above 39750-39925 levels; if to do so, then it may try to re-test 40070-40210-40450-40720 levels. On the other hand, any weakness near 39750-39925  further, it moves below 39620-39565 then, the Index may re-visit 39425-39410-39230-39150-39070-38810 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.