17.05.22-Tuesday-8.46 am

Good Morning Members

What has happened yesterday? Nifty Index, as expected and written opened on a positive note at 15845.10, our expected opening band 15840-15910, on opening move, the Index made a low 15739.65; thereafter, it moved up, made a day high 15977.85 and closed at 15842.10, on a positive note with an intra gain 60.15 points, i.e., 0.38%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a positive note near 15860-15905 levels; if open, trade and sustain above 15905 then, the index may re-test 15925-15950-15980-16005-16040-16070-16110-16150 levels. On the other hand, the immediate support lies at 15815-15795; if, the Index moves below 15795 then, it may try to re-visit 15740-15705-15670-15610-15550-15505-15440 levels.

Special Mention: Yesterday, the Nifty Index took sttrong support near 15740 and moved up till 15977 and closed well below 15910, today, the Nifty Index must take support near 15840-15795-15740 levels; if fails to take support near 15840-15795 then, the Nifty Index may try to re-visit 15670-15550-15440 levels very soon. On the other hand, if the Index able to move above 15980-16005-16040 then, it may try to re-test 16405-16625 levels in the near term. Let see, how the Index opens today at 15860-15905 levels. Today LIC is getting listed in the stock exchanges, this week, the Intra volailtiy may be in a high note, trade with due caution till this month end; since, most of the May month, the Nifty was trading in a corrective phase. 

Nifty Bank Index: Nifty Bank Index yesterday, opened in 33256, on the opening move, it made a day low 33001.75; thereafter, it moved up, made a day high 33821.65 and closed on a positive note at 33597.60 with an intra gain 476.25 points, i.e., 1.44%, today the Nifty Bank Index must move above 33795-33850 levels; if to do so, then it may try to re-est 33960-34040-34110-34270-34345-34410-34560-34795 levels. On the other hand, any weakness near 33795-33850; further, it moves below 33425-33200 then, the Index may re-visit 33100-33000-32950-32870-32770-32520-32375 levels.

Trading Strategy: The members/followers/readers, can invest in Nifty100 stocks, when the Nifty Index testing 16000-15700-15500 levels, on a medium term perspective to gain 9-15% profit.

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.