27.09.22-Tuesday, 8.34 am

Good Morning Members

What has happened yesterday? Nifty Index, as written and expected, opened on a negative note at 17156.30, on opening move, the Index made a high 17196.40; thereafter, it moved down, made a day low 16978.30 closed at 17016.30, on a negative note with an intra loss -311.05 points, i.e., -1.80%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a flat to positive note near 17055-17090-17140 levels; if open, trade and sustain above 17140-17165 then, the index may test 17200-17255-17290-17310-17380-17445-17500-17565 levels. On the other hand, the immediate support lies at 17000-16970-16940 if, the Index moves below 16940 then, it may try to re-visit 16920-16880-16845-16820-16790-16750 levels.

Special Mention: Yesterday, the Nifty Index, the global weakness dragged the Index further till our threshold support levels i.e., 17166-17000 and closed well below 17166, today the Index must move and sustain above 17090-17166-17200 then, it may re-test 17380-17480-17770-17920 levels in the near term. On the other hand, if the Index unable to move above 17090-17166-17200 and moves below 17000-16980-16940 then, it may try to re-visit 16750-16640-16450 levels in the near term. Let see how the Index opens today at 17055-17090-17140 levels, this week, the intra volatility may be in a high note due to F&O expiry and RBI MPC Meet, which is scheduled on 30th Sep-Friday, trade with due caution is my advise, aviod aggressive log or short postions, at this juncture.

Nifty Bank Index: Nifty Bank Index yesterday, opened at 39027.85, on the opening move, it made a day high 39229.40; thereafter, it moved down, made a day low 38492.20 and closed on a negative note at 38616.25 with an intra loss -930 points, i.e., -2.35%, today the Nifty Bank Index must move above 38680-38740-38970 levels; if to do so, then it may try to re-test 39070-39230-39315-39430-39510-39570-39760 levels. On the other hand, any weakness near 38680-38740-39970 further, it moves below 39530-38490-38230 then, the Index may re-visit 38190-37945-37750-37560 levels.

Trading Strategy: The members/followers/readers, try re-invest partially near 17000-16940-16750 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.