20.05.22-Friday-8.16 am

Good Morning Members

What has happened yesterday? Nifty Index, as expected and written opened on a negative note with gap down at 15917.40, our expected opening band 16040-16005, on opening move, the Index made a high 15984.75; thereafter, it moved down, made a day low 15775.20 and closed at 15809.40, on a negative note with an intra huge loss -430.90 points, i.e., -2.65%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a positive note with gap up by tracking the Asian indices near 15900-15925-15960 levels; if open, trade and sustain above 15960 then, the index may re-test 15985-16005-16040-16105-16145-16205-16255-16290-16325-16399 levels. On the other hand, the immediate support lies at 15825-15775; if, the Index moves below 15825-15775 then, it may try to re-visit 15735-15700-15670-15605-15555 levels.

Special Mention: Yesterday, the Nifty Index unable to continue the pull back rally and moved down, made a low 15775 and closed well below 16040, today, the Nifty Index must take support near 15825-15735 levels; if fails to take support near 15735 then, the Nifty Index may try to re-visit 15670-15555-15440 levels very soon. On the other hand, if the Index able to move above 15900-16040 then, it may try to re-test 16405-16550-16625 levels in the near term, the last hope for the Nifty Index lies at 15740-15670, any close below 15670 for three consecutive trading sessions, the weakness may drag the Index till 15500-15200-14900 levels soon.  Let see, how the Index opens today at 15900-15925-15960 levels. The Intra volatility may be in a high note, due to today'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 33461, on the opening move, it made a day high 33633.95; thereafter, it moved down, made a day low 33180.60 and closed on a negative note at 33315.65 with an intra loss -848.05 points, i.e., -2.48%, today the Nifty Bank Index must move above 33500-33635 levels; if to do so, then it may try to re-est 33755-33810-33905-34000-34145-34275 levels. On the other hand, any weakness near 33500-33635; further, it moves below 33180-33055-33000 then, the Index may re-visit 32950-32775-32550-32350-32155 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.