09.09.22-Friday, 8.34 am

Good Morning Members

What has happened yesterday? Nifty Index, as expected and written opened on a positive note with gap up at 17748.15, our expected opening band 17725-17750, on opening move, the Index made a day low 17691.95; thereafter, it moved up, made a day high 17807.65 and closed at 17798.75, on a positive note with an intra gain 174.35 points, i.e., 0.99%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a positive note with gap up near 17850-17895 levels; if open, trade and sustain above 17895 then, the index may test 17920-17950-17990-18020-18045 levels. On the other hand, the immediate support lies at 17835-17807 if, the Index moves below 17800 then, it may try to re-visit 17780-17750-17710-17675-17630-17595-17540 levels.

Special Mention: Yesterday, the Nifty Index, finally broken the threshold consolidation levels i.e., 17777  and closed well above this levels, today the Index must move and sustain above 17850-17910 then, it may re-test 17995-18045-18215 levels in the near term. On the other hand, if the Index unable to move above 17850-17910 and moves below 17777-17600 then, it may try to re-visit 17345-17260-17166 levels in the near term. Let see how the Index opens today at 17850-17895 levels, the intra volatility may be in high note due to today'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 39763.90, on the opening move, it made a day low 39706.40; thereafter, it moved up, made a day high 40265.75 and closed on a positive note at 40208.95 with an intra gain 753.05 points, i.e., 1.91%, today the Nifty Bank Index must move above 40400-40508 levels; if to do so, then it may try to re-test 40660-40740-40830-40880-41040-41200 levels. On the other hand, any weakness near 40400-40508 further, it moves below 40250-40160 then, the Index may re-visit 39870-39795-39710-39550 levels.

Trading Strategy: The members/followers/readers, those who re-invested near 17400-17350 try to book partial profit near 17900-18000 or the stocks given profit 9-15% 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.