16.09.22-Friday, 8.34 am

Good Morning Members

What has happened yesterday? Nifty Index, as written and expected, opened on a flat to positive note at 18046.35, on opening move, the Index made a high 18096.15; thereafter, it moved down, made a day low 17861.50 and closed at 17877.40, on a negative note with an intra loss - 126.35 points, i.e., -0.70%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a negative note near 17860-17810-17770 levels; if open, trade and sustain above 17860 then, the index may test 17915-17975-18005-18025-18045-18095-18125 levels. On the other hand, the mmediate support lies at 17730-17680 if, the Index moves below 17680 then, it may try to re-visit 17630-17595-17556--17515-17485 levels.

Special Mention: Yesterday, the Nifty Index, though made a high 18096, witnessed a brief sell-off, made a low 17860 and closed below 18k mark, today the Index must move and sustain above 18030-18096-18125 then, it may re-test 18215-18410 levels in the near term. On the other hand, if the Index unable to move above 18030-18096-18125 and moves below 17850-17770 then, it may try to re-visit 17650-17485-17380 levels in the near term. Let see how the Index opens today at 17860-17810-17770 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 41533.70, on the opening move, it made a day high 41840.15; thereafter, it moved downl, made a day low 41153.50 and closed on a negative note at 41209.20 with an intra loss -196.20 points, i.e., -0.47%, today the Nifty Bank Index must move above 41520-41640 levels; if to do so, then it may try to re-test 41700-41840-41990-42000-42065 levels. On the other hand, any weakness near 41520-14640 further, it moves below 41155-40965 then, the Index may re-visit 40800-40650-40470-40300 levels.

Trading Strategy: The members/followers/readers, those who re-invested near 17400-17350 try to book full profit near 18100-18250-18400 or the stocks given profit 9-15% and wait for the the Nifty to correct further to re-invest.

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.