19.09.22-Monday, 8.34 am

Good Morning Members

What has happened on Friday? Nifty Index, as written and expected, opened on a negative note at 17796.80, on opening move, the Index made a high 17820.05; thereafter, it moved down, made a day low 17497.25 and closed at 17530.85, on a negative note with an intra loss - 346.55 points, i.e., -1.94%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a flat note near 17570-17530-17500 levels; if open, trade and sustain above 17570 then, the index may test 17620-17660-17695-17725-17750-17785-17820-17860 levels. On the other hand, the immediate support lies at 17485-17445 if, the Index moves below 17445 then, it may try to re-visit 17410-17385-17340-17275 levels.

Special Mention: On Friday, the Nifty Index, unable to move above 18k, witnessed a sell-off, made a low 17497 and closed below 18k mark, today the Index must move and sustain above 17725-17770 then, it may re-test 18096-18215-18410 levels in the near term. On the other hand, if the Index unable to move above 17725-17770-18025 and moves below 17530-17485 then, it may try to re-visit 17385-17270-17166 levels in the near term. Let see how the Index opens today at 17570-17530-17500 levels, this week the intra volatility may be in high note, trade with due caution at the higher levels is my advise, at this juncture.

Nifty Bank Index: Nifty Bank Index on Friday, opened at 40977.20, on the opening move, it made a day high 41162.50; thereafter, it moved down, made a day low 40502.05 and closed on a negative note at 40776.80 with an intra loss -432.40 points, i.e., -1.05%, today the Nifty Bank Index must move above 40870-41020 levels; if to do so, then it may try to re-test 41160-41840-41990-42000-42065 levels. On the other hand, any weakness near 40870-41020 further, it moves below 40500-40430 then, the Index may re-visit 40320-40280-40075-39890 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.