23.05.22-Monday-8.46 am

Good Morning Members

What has happened on Friday? Nifty Index, as expected and written opened on a positive note with gap up at 16043.80, our expected opening band 15925-15960, on opening move, the Index made a high 16193; thereafter, it moved down, made a day low 16003.85, further it moved up, made a dah high 16283.05 and closed at 16266.15, on a positive note with an intra huge gain 430.90 points, i.e., 2.89%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a flat to positive note near 16260-16285-16325 levels; if open, trade and sustain above 16325 then, the index may re-test 16360-16400-16440-16485-16535-16570-16625 levels. On the other hand, the immediate support lies at 16225-16200; if, the Index moves below 16200-16175 then, it may try to re-visit 16145-16070-16035-16005-15960-15925 levels.

Special Mention: On Friday, the Nifty Index took support  near 16005 and moved up and made high 16283 and closed well above 16211, today, the Nifty Index must move above 16400 levels; if to dio so then, the index may test 16510-16625 levels very soon. On the other hand, if the Index unable to move above 16400 then, it may try to re-visit 16000-16750-16675 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 16260-16285-16325 levels. The Intra volatility may be in a high note, due to F&O Expiry, 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 337615.15, on the opening move, it made a day low 33658.05; thereafter, it moved up, made a day high 34358.05 and closed on a positive note at 34276.40 with an intra gain 960.75 points, i.e., 2.88%, today the Nifty Bank Index must move above 34360-34550 levels; if to do so, then it may try to re-est 34-670-34793-34950-35105-35125 levels. On the other hand, any weakness near 34360-34550; further, it moves below 34150-34000 then, the Index may re-visit 33825-33660-33470-33390-33195-33300 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 stocks 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

For further details please do call us on 98410 48022 or contact thro' WhatsApp: 99624 70636. Please read carefully, the Disclaimer published in the Disclaimer page.

Wishing you for a safe, secured and profitable trading.