18.05.22-Wednesday-8.25 am

Good Morning Members

What has happened yesterday? Nifty Index, as expected and written opened on a positive note at 15912.60, our expected opening band 15860-15905, on opening move, the Index made a low 15900.80; thereafter, it moved up throughout the day, made a day high 16284.25 and closed at 16259.60, on a positive note with an intra huge gain 417 points, i.e., 2.63%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a flat to positive note near 16260-16295 levels; if open, trade and sustain above 16295 then, the index may re-test 16325-16355-16385-16405-16445-16485-16535-16585 levels. On the other hand, the immediate support lies at 16220-16200-16170; if, the Index moves below 16170 then, it may try to re-visit 16140-16120-16075-16010-15980-15945-15900-15865 levels.

Special Mention: Yesterday, the Nifty Index started the pull back and moved till 16284 and closed well above 16140, today, the Nifty Index must take support near 16200-16170-16140 levels; if fails to take support near 16140 then, the Nifty Index may try to re-visit 15970-15740 levels very soon. On the other hand, if the Index able to move above 16285-16340 then, it may try to re-test 16405-16550-16625 levels in the near term. Let see, how the Index opens today at 16260-16295 levels. The Intra volatility may be in a high note, due to tomorrow's weekly option expiry and Friday's week-end factor, 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 33796.20, on the opening move, it made a day low 33680.60; thereafter, it moved up, made a day high 34366.05 and closed on a positive note at 34301.90 with an intra gain 704.30 points, i.e., 2.10%, today the Nifty Bank Index must move above 34410-34550 levels; if to do so, then it may try to re-est 34790-34860-35075-35125 levels. On the other hand, any weakness near 34410-34550; further, it moves below 34210-34075 then, the Index may re-visit 33970-33920-33845-33680-33555-33325-33160-33080-33000 levels.

Trading Strategy: The members/followers/readers, those who invested during the recent low levles, try to book partial profit near 16250-16400 or the stocs gives a profit 6-9% and wait for further run.

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.