22.09.22-Thursday, 8.34 am

Good Morning Members

What has happened yesterday? Nifty Index, as written and expected, opened on a negative note at 17766.35, on opening move, the Index made a high 17838.70; thereafter, it moved down, made a day low 17663.60 and closed at 17718.35, on a negative note with an intra loss -97.90 points, i.e., -0.55%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a negative note with gap down near 17615-17575-17545 levels; if open, trade and sustain above 17665-17710 then, the index may test 17750-17795-17840-17885-17920 levels. On the other hand, the immediate support lies at 17545-17510 if, the Index moves below 17510 then, it may try to re-visit 17485-17430-17400-17380-17350-17275 levels.

Special Mention: Yesterday, the Nifty Index, the global weakness dragged the Index till our threshold supoort levels i.e., 17665 and closed well below 17775, today the Index must move and sustain above 17710-17775-17840 then, it may re-test 17960-18096-18215 levels in the near term. On the other hand, if the Index unable to move above 17710-17775 and moves below 17665-17545 then, it may try to re-visit 17430-17385-17270 levels in the near term. Let see how the Index opens today at 17615-17575-17545 levels, the intra volatility may be in a high note due to today's option weekly expiry and tomorrow'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 41282.60, on the opening move, it made a day high 41501.70; thereafter, it moved down, made a day low 40889.15 and closed on a negative note at 41203.45 with an intra loss -264.85 points, i.e., -0.64%, today the Nifty Bank Index must move above 41330-41500 levels; if to do so, then it may try to re-test 41665-41805-42000-42175 levels. On the other hand, any weakness near 41330-41500 further, it moves below 41165-40960 then, the Index may re-visit 40890-40720-40660-40510-40400-40290 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.