26.05.22-Thursday-8.25 am

Good Morning Members

What has happened yesterday? Nifty Index, as expected and written opened on a flat to positive note at 16196.35, our expected opening band 16120-16150, on opening move, the Index made a high 16223.35; thereafter, it moved down, made a day low 16006.95 and closed at 16025.80, on a negative note with an intra loss -99.35 points, i.e., -0.62%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a flat to positive note near 16060-16098-16130 levels; if open, trade and sustain above 16130 then, the index may re-test 16160-16195-16225-16255-16285-16310-16340-16385-16415-16475 levels. On the other hand, the immediate support lies at 16070-16005; if, the Index moves below 16005-15950 then, it may try to re-visit 15925-15885-15850-15815-15775-15725-15675 levels.

Special Mention: Yesterday, the Nifty Index unable to move above our threshold levels; i.e., 16225, it made a day high 16223 then, the weakness cum sell-off dragged down till 16006.95 and closed well below 16095, today, the Nifty Index must move above 16095-16160 levels; if to do so then, the index may test 16325-16415 levels very soon. On the other hand, if the Index unable to move above 16100-16160 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 16060-16098-16130 levels. The Intra volatility may be in a high note, due today's  F&O Expiry and tomorrow's week-end factor, trade with due caution till this month end or till Jun'22; since, most of the May month, the Nifty was trading in a corrective phase. 

Nifty Bank Index: Nifty Bank Index yesterday, opened in 34491.80, on the opening move, it made a day high 34722.60; thereafter, it moved down, made a day low 34285.80 and closed on a positive note at 34339.50 with an intra gain 49.35 points, i.e., 0.14%, today the Nifty Bank Index must move above 34550-34665-34725 levels; if to do so, then it may try to re-est 34840-34950-35105-35125-35265 levels. On the other hand, any weakness near 34550-34665-34725; further, it moves below 34285-34160 then, the Index may re-visit 34000-33930-33845-33660-33630-33570-33375-33180-33000 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.