23.09.22-Friday, 8.34 am

Good Morning Members

What has happened yesterday? Nifty Index, as written and expected, opened on a negative note at 17609.65, on opening move, the Index made a low 17532.45; thereafter, it moved up, made a day high 17722.75, further it moved down and closed at 17629.80, on a negative note with an intra loss -88.55 points, i.e., -0.50%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a negative note near 17600-17580-17535 levels; if open, trade and sustain above 17610-17675 then, the index may test 17695-17725-17750-17775-17805-17835-17875-17920 levels. On the other hand, the immediate support lies at 17535-17500-17485 if, the Index moves below 17485 then, it may try to re-visit 17460-17430-17400-17380-17350-17275 levels.

Special Mention: Yesterday, the Nifty Index, the global weakness dragged the Index till our threshold supoort levels i.e., 17585-17545 and closed well below 17675, today the Index must move and sustain above 17675-17730-17775 then, it may re-test 17920-18096-18215 levels in the near term. On the other hand, if the Index unable to move above 17675-17730-17775 and moves below 17530-17485-17430 then, it may try to re-visit 17380-17270-17165 levels in the near term. Let see how the Index opens today at 17600-17580-17530 levels, the intra volatility may be in a 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 40889.05, on the opening move, it made a day high 41159.20; thereafter, it moved down, made a day low 40360.20 and closed on a negative note at 40630.60 with an intra loss -572.85 points, i.e., -1.39%, today the Nifty Bank Index must move above 40930-41160 levels; if to do so, then it may try to re-test 41210-41375-41465-41500-41675 levels. On the other hand, any weakness near 40930-41160 further, it moves below 41500-40360 then, the Index may re-visit 40265-40150-39890-39760 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.