08.09.22-Thursday, 8.34 am

Good Morning Members

What has happened yesterday? Nifty Index, as expected and written opened on a negative note at 17519.40, our expected opening band 17540-17485, on opening move, the Index made a day low 17484.30; thereafter, it moved up, made a day high 17650.75 and closed at 17624.40, on a negative note with an intra loss -31.20 points, i.e., .0.18%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a positive note with gap up near 17695-17725-17750 levels; if open, trade and sustain above 17750 then, the index may test 17775-17815-17855-17895 levels. On the other hand, the immediate support lies at 17650-17620-17600 if, the Index moves below 17600 then, it may try to re-visit 17570-17525-17500-17485-17440-17400 levels.

Special Mention: Yesterday, the Nifty Index, consolidating for more than six trading sessions, not breaking the threshold resistance i.e., 17777 or support levels i.e., 17401 and closed once again near the important resistance levels i.e., 17665 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 17695-17750-17777 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 17695-17725-17750 levels, the intra volatility may be in high note due to today's option weekly expiry and tomorrow's week-end factor, trade with due caution at the higher levels is my advise, at this juncture.

Nifty Bank Index: Nifty Bank Index yesterday, opened at 39337.75, on the opening move, it made a day high 39572.05; thereafter, it moved down, made a day low 39258.25 and closed on a negative note at 39455.90 with an intra loss -210.60 points, i.e., -0.53%, today the Nifty Bank Index must move above 39570-39670 levels; if to do so, then it may try to re-test 39835-39980-40075-40250-40295-40385-40480 levels. On the other hand, any weakness near 39570-39570  further, it moves below 39455-39260 then, the Index may re-visit 39170-39010-38805 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.