25.05.22-Wednesday-8.25 am

Good Morning Members

What has happened yesterday? Nifty Index, as expected and written opened on a flat to positive note at 16225.55, our expected opening band 16240-16280, on opening move, the Index made a high 16262.80; thereafter, it moved down, made a day low 16078.60 and closed at 16125.15, on a negative note with an intra loss -89.55 points, i.e., -0.55%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a flat note near 16120-16150 levels; if open, trade and sustain above 16150 then, the index may re-test 16205-16240-16265-16310-16340-16385-16415-16475-16530-16585 levels. On the other hand, the immediate support lies at 16075-16025; if, the Index moves below 16025-16005 then, it may try to re-visit 15960-15925-15850-15775 levels.

Special Mention: Yesterday, the Nifty Index unable to move above 16285, the weakness cum sell-off dragged down till 16078.60 and closed well below 16225, today, the Nifty Index must move above 16225-16285-16310 levels; if to do so then, the index may test 16415-16625 levels very soon. On the other hand, if the Index unable to move above 16225-16285-16310 then, it may try to re-visit 15925-15750-15675 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 16120-16150 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 34223.20, on the opening move, it made a day high 34586.45; thereafter, it moved down, made a day low 34115.80 and closed on a positive note at 34290.15 with an intra gain 42.55 points, i.e., 0.12%, today the Nifty Bank Index must move above 34435-34585 levels; if to do so, then it may try to re-est 34715-34820-34950-35105-35125 levels. On the other hand, any weakness near 34435-34585; further, it moves below 34115-33985 then, the Index may re-visit 33930-33845-33660-33630-33570-33375-33180-33000 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 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

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Wishing you for a safe, secured and profitable trading.