20.09.22-Tuesday, 8.34 am

Good Morning Members

What has happened yesterday? Nifty Index, as written and expected, opened on a negative note at 17540.65, on opening move, the Index made a low 17429.70; thereafter, it moved down, made a day high 17667.20 and closed at 17622.25, on a positive note with an intra gain 91.40 points, i.e., 0.52%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a positive note with gap up near 17695-17730-17770 levels; if open, trade and sustain above 17770 then, the index may test 17800-17820-17845-17870-17900-17925-17950 levels. On the other hand, the immediate support lies at 17665-17620 if, the Index moves below 17620 then, it may try to re-visit 17590-17550-17510-17470-17430-17380 levels.

Special Mention: Yesterday, the Nifty Index, took support near our threshold levles i.e., 17485-17430, further it moved up till 17667 and closed well above 17585 levels , today the Index must move and sustain above 17730-17770 then, it may re-test 17950-18096-18215 levels in the near term. On the other hand, if the Index unable to move above 17735-17770-18030 and moves below 17585-17485-17430 then, it may try to re-visit 17385-17270-17166 levels in the near term. Let see how the Index opens today at 17695-17730-17770 levels, this week the intra volatility may be in a high note, trade with due caution at the higher levels is my advise, at this juncture.

Nifty Bank Index: Nifty Bank Index yesterday, opened at 40685.60, on the opening move, it made a day low 40509.90; thereafter, it moved up, made a day high 41184.25 and closed on a positive note at 40904.40 with an intra gain 127.60 points, i.e., 0.31%, today the Nifty Bank Index must move above 41185-41330 levels; if to do so, then it may try to re-test 41450-41555-41690-41840-42000 levels. On the other hand, any weakness near 41185-41330 further, it moves below 41000-40730 then, the Index may re-visit 40590-40510-40350-40120 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.