01.06.22-Wednesday-8.34 am

Good Morning Members

What has happened on yesterday? Nifty Index, contrary to our expectation, opened on a negative note with gap down at 16578.45, our expected opening band 16640-16625, on opening move, the Index made a low 16521.90; thereafter, it moved up, made a day high 16690.75, once again the intra volatility dragged down the index near to to the day low and closed at 16584.55, on a negative note with an intra loss -56.85 points, i.e., -0.34%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a flat to negative note near 16560-16520 levels; if open, trade and sustain above 16560 then, the index may re-test 16605-16640-16995-16735-16750-16785-16825 levels. On the other hand, the immediate support lies at 16520-16475; if, the Index moves below 16475-16460 then, it may try to re-visit 16425-16395-16345-16305-16225 levels.

Special Mention: Yesterday, the Nifty Index unable to continue the pull back move above 16700, but able to  and closed very well above 16555 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 16555-16415 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 16560-16520 levels. The Intra volatility may be in a high note, due to tomorrow's weekly option expiry, trade with due caution till Jun'22. 

Nifty Bank Index: Nifty Bank Index on yesterday, opened in 35615.30, on the opening move, it made a day high 35881.95; thereafter, it moved down, made a day low 35288.95 and closed on a negative note at 35487.40 with an intra loss -339.55 points, i.e., -0.95%, today the Nifty Bank Index must move above 35650-35710-35840 levels; if to do so, then it may try to re-test 35880-36085-36110-36190-36295 levels. On the other hand, any weakness near 35710-35840; further, it moves below 35355-35290 then, the Index may re-visit 35230-35125-34975-34860-34630 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.