21.09.22-Wednesday, 8.34 am

Good Morning Members

What has happened yesterday? Nifty Index, as written and expected, opened on a positive note at 17770.40, on opening move, the Index made a low 17744.90; thereafter, it moved up, made a day high 17919.30 and closed at 17816.25, on a positive note with an intra gain 194 points, i.e., 1.10%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a negative note with gap down near 17745-17700 levels; if open, trade and sustain above 17780-17820 then, the index may test 17850-17870-17895-17920-17960-18020 levels. On the other hand, the immediate support lies at 17665-17625 if, the Index moves below 17625 then, it may try to re-visit 17585-17545-17510-17485-17430-17380 levels.

Special Mention: Yesterday, the Nifty Index, the pull back rally lifted till 17919 and closed well above our threshold levels i.e., 17775, today the Index must move and sustain above 17775-17870-17920 then, it may re-test 17960-18096-18215 levels in the near term. On the other hand, if the Index unable to move above 17775-17870-17920 and moves below 17700-17665 then, it may try to re-visit 17585-17430-17385-17270 levels in the near term. Let see how the Index opens today at 17745-17700 levels, the intra volatility may be in a 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 41304.15, on the opening move, it made a day low 41207.30; thereafter, it moved up, made a day high 41677.65 and closed on a positive note at 41468.30 with an intra gain 563.90 points, i.e., 1.38%, today the Nifty Bank Index must move above 41400-41675 levels; if to do so, then it may try to re-test 41805-42000-42175-42350 levels. On the other hand, any weakness near 41400-41675 further, it moves below 41320-41210 then, the Index may re-visit 41080-40820-40660-40500 levels.

Trading Strategy: The members/followers/readers, those who re-invested near 17400-17350 try to book full profit near 18000-18100-18250 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.