14.09.22-Wednesday, 8.34 am

Good Morning Members

What has happened yesterday? Nifty Index, opened on a positive note with gap up at 18044.85, on opening move, the Index made a day low 18015.45; thereafter, it moved up, made a day high 18088.30 and closed at 18070.05, on a positive note with an intra gain 133.70 points, i.e., 0.75%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a negative note with gap down near 17850-17830-17785 levels; if open, trade and sustain above 17850 then, the index may test 17890-17950-17995-17935-18025-18088 levels. On the other hand, the immediate support lies at 17785-17735 if, the Index moves below 17735 then, it may try to re-visit 17680-17650-17625-17555-17485 levels.

Special Mention: Yesterday, the Nifty Index, continued the northward journey beyond 18k mark and closed very well above 18k mark, today the Index must move and sustain above 17980-18085 then, it may re-test 18215-18410 levels in the near term. On the other hand, if the Index unable to move above 18088-18215 and moves below 17785-17650 then, it may try to re-visit 17485-17380 levels in the near term. Let see how the Index opens today at 17850-17830-17785 levels, the intra volatility may be in high note due to tomorrow's option weekly expiry, trade with due caution at the higher levels is my advise, at this juncture.

Nifty Bank Index: Nifty Bank Index yesterday, opened at 40802.10, on the opening move, it made a day low 40693.95; thereafter, it moved up, made a day high 40904.30 and closed on a positive note at 40873.10 with an intra gain 299.10 points, i.e., 0.74%, today the Nifty Bank Index must move above 40900-40960 levels; if to do so, then it may try to re-test 40135-41170-41250 levels. On the other hand, any weakness near 40900-40960 further, it moves below 40630-40420 then, the Index may re-visit 40275-40080-39925-39645-39260 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.