26.09.22-Monday, 8.34 am

Good Morning Members

What has happened on Friday? Nifty Index, as written and expected, opened on a negative note at 17593.65, on opening move, the Index made a high 17642.15; thereafter, it moved down, made a day low 17291.65 closed at 17327.35, on a negative note with an intra loss -302.45 points, i.e., -1.72%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a negative note with gap down by tracking the global indices near 17290-17195-17166 levels; if open, trade and sustain above 17290-17370 then, the index may test 17435-17470-17510-17540-17600-17640-17710 levels. On the other hand, the immediate support lies at 17195-17165 if, the Index moves below 17165 then, it may try to re-visit 17115-17045-16980-16940 levels.

Special Mention: On Friday, the Nifty Index, the global weakness dragged the Index further till our threshold support levels i.e., 17380-17300 and closed well below 17380, today the Index must move and sustain above 17380-17485 then, it may re-test 17770-17920 levels in the near term. On the other hand, if the Index unable to move above 17380-17485 and moves below 17200-17165-17115 then, it may try to re-visit 16940-16750 levels in the near term. Let see how the Index opens today at 17290-17195-17165 levels, this week, the intra volatility may be in a high note due to F&O expiry and RBI MPC Meet, trade with due caution is my advise, at this juncture.

Nifty Bank Index: Nifty Bank Index yesterday, opened at 40429.35, on the opening move, it made a day high 40528.40; thereafter, it moved down, made a day low 39412.70 and closed on a negative note at 39546.25 with an intra loss -1084.35 points, i.e., -2.67%, today the Nifty Bank Index must move above 39640-39970 levels; if to do so, then it may try to re-test 40100-40210-40400-40525-40800 levels. On the other hand, any weakness near 39640-39970 further, it moves below 39400-39100 then, the Index may re-visit 38860-38580-38400-37945 levels.

Trading Strategy: The members/followers/readers, try re-invest partially near 17200-16940-16750 in Nifty50 stocks with medium term perspective to gain 5-10%.

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.