31.05.22-Tuesday-8.34 am

Good Morning Members

What has happened on yesterday? Nifty Index, as expected and written opened on a positive note with gap up at 16527.90, our expected opening band 16445-16475, on opening move, the Index made a low 16506.15; thereafter, it moved up, made a day high 16695.50 and closed at 16661.40, on a positive note with an intra gain 288.95 points, i.e., 1.77%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a flat to positive note near 16660-16640-16625 levels; if open, trade and sustain above 16660 then, the index may re-test 16695-16745-16785-16825-16860-16895 levels. On the other hand, the immediate support lies at 16600-16555; if, the Index moves below 16555-16515 then, it may try to re-visit 16460-16415-16375-16335-16270-16220 levels.

Special Mention: Yesterday, the Nifty Index continued the pull back till 16695 and closed very well above 16415 levels, today, the Nifty Index must move above 16695-16750 levels; if to do so then, the index may re-test 16895-17025 levels in ther near term. On the other hand, if the Index unable to move above 16695-17025 then, it may try to re-visit once again 16505-16415 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 16660-16640-16625 levels. The Intra volatility may be in a high note, due today's month-end factor, please trade with deue caution till  Jun'22. 

Nifty Bank Index: Nifty Bank Index on yesterday, opened in 35958.80, on the opening move, it made a day high 36083.70; thereafter, it moved down, made a day low 35748.45 and closed on a positive note at 35826.95 with an intra gain 213.65 points, i.e., 0.60%, today the Nifty Bank Index must move above 35985-36085 levels; if to do so, then it may try to re-test 36190-36295 -36500-36700 levels. On the other hand, any weakness near 35985-36085; further, it moves below 35750-35630 then, the Index may re-visit 35300-35100-34860 levels.

Trading Strategy: The members/followers/readers, those who invested during the recent low levles, try to book profit near 16700-16850 orr the stocks gives a profit 9-12% 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.