30.05.22-Monday-8.25 am

Good Morning Members

What has happened on Friday? Nifty Index, as expected and written opened on a positive note with gap up at 16296.60, our expected opening band 16260-16285, on opening move, the Index made a low 16221.95; thereafter, it moved up, made a day high 16370.60 and closed at 16352.45, on a positive note with an intra gain 182.30 points, i.e., 1.13%.

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 16415-16445-16475 levels; if open, trade and sustain above 16475 then, the index may re-test 16510-16555-16595-16625-16650 levels. On the other hand, the immediate support lies at 16370-16325; if, the Index moves below 16325-16295 then, it may try to re-visit 16255-16220-16205-16185-16125-16060-16020-15975-15930-15905 levels.

Special Mention: On Friday, the Nifty Index took strong support near 16225 and moved up till 16370 and closed very well above 16225 levels, today, the Nifty Index must move above 16415-16475 levels; if to do so then, the index may re-test 16550-16625-16650 levels very soon. On the other hand, if the Index unable to move above 16495-16550 then, it may try to re-visit once again 16225-16005-16900 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 16415-164445-16475 levels. The Intra volatility may be in a high note, due tomorrow's month-end factor, please trade with deue caution till  Jun'22. 

Nifty Bank Index: Nifty Bank Index on Friday, opened in 35326.60, on the opening move, it made a day low 35291.95; thereafter, it moved up, made a day high 35694.85 and closed on a positive note at 35613.30 with an intra huge gain 519 points, i.e., 1.48%, today the Nifty Bank Index must move above 35695-35805 levels; if to do so, then it may try to re-test 35925-36110-36190-36295 levels. On the other hand, any weakness near 35695-35805; further, it moves below 35575-35495 then, the Index may re-visit 35380-35290-35222-35185-35125-34820 levels.

Trading Strategy: The members/followers/readers, those who invested during the recent low levles, try to book profit near 16415-16550-16630 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.