27.05.22-Friday-8.25 am

Good Morning Members

What has happened yesterday? Nifty Index, as expected and written opened on a flat to positive note at 16105, our expected opening band 16098-16130, on opening move, the Index made a low 15903.70; thereafter, it moved up, made a day high 16204.45 and closed at 16170.15, on a positive note with an intra gain 144.35 points, i.e., 0.90%.

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 16225-16260-16285 levels; if open, trade and sustain above 16285 then, the index may re-test 16305-16355-16385-16415-16475-16550 levels. On the other hand, the immediate support lies at 16170-16115; if, the Index moves below 16115-16070 then, it may try to re-visit 16005-15975-15905-15885-15850-15820-15775-15725-15675 levels.

Special Mention: Yesterday, the Nifty Index though it broken the threshold support levels i.e., 16005 and moved till 15903.70, the late hour pull back lifted the Index till 16204 and closed well above 16170 levels, today, the Nifty Index must move above 16225-16260-16285 levels; if to do so then, the index may re-test 16415-16550-16625 levels very soon. On the other hand, if the Index unable to move above 16225-16260-16285 then, it may try to re-visit once again 15905-15750-15675 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 16225-16260-16285 levels. The Intra volatility may be in a high note, due today'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 34670.60, on the opening move, it made a day low 34424.75; thereafter, it moved up, made a day high 35222.05 and closed on a positive note at 35094.90 with an intra huge gain 754.80 points, i.e., 2.20%, today the Nifty Bank Index must move above 35395-35465 evels; if to do so, then it may try to re-test 35630-35776-35920 levels. On the other hand, any weakness near 35395-35465; further, it moves below 35050-34985 then, the Index may re-visit 34820-34655-34520-34425-34300-34210 levels.

Trading Strategy: The members/followers/readers, those who invested during the recent low levles, try to book partial profit near 16250-16415 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.