03.06.22-Friday-8.34 am

Good Morning Members

What has happened on yesterday? Nifty Index, as expected and written, opened on a negative note at 16481.65, our expected opening band 16460-16415, on opening move, the Index made a low 16443.05; thereafter, it moved up, made a day high 16646.40 and closed at 16628, on a positive note with an intra gain 105.25 points, i.e., 0.64%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a positive note with gap up at 16700-16765-16795 levels; if open, trade and sustain above 16795 then, the index may re-test 16825-16855-16895-16945-16960 levels. On the other hand, the immediate support lies at 16645-16595; if, the Index moves below 16595-16555 then, it may try to re-visit 16505-16445-16415-16395-16370-16310-16255-16221 levels.

Special Mention: Yesterday, the Nifty Index unable to continue the pull back move above 16700 and made an inside day pattern further, it closed very well above 16555 levels, today, the Nifty Index must move above 16750-16795 levels; if to do so then, the index may re-test 16895-17025-17135 levels in ther near term. On the other hand, if the Index unable to move above 16795-16825 then, it may try to re-visit once again 16415-16220 levels in the near term, the last hope for the Nifty Index lies at 16400, any close below 16400 for three consecutive trading sessions, the weakness may drag the Index till 15675 levels soon.  Let see, how the Index opens today at 16700-16750-16795 levels. The Intra volatility may be in a high note, due to today's week-end factor, trade with due caution till Jun'22. 

Nifty Bank Index: Nifty Bank Index on yesterday, opened in 35470.95, on the opening move, it made a day low 35385; thereafter, it moved up, made a day high 35676.20 and closed on a flat to negative note at 35613.65 with an intra marginal loss -7.15 points, i.e., -0.02%, today the Nifty Bank Index must move above 35775-35880-35975 levels; if to do so, then it may try to re-test 36085-36110-36240-36310-36390-36540-36720-36820 levels. On the other hand, any weakness near 35775-35880-35975; further, it moves below 35675-35510 then, the Index may re-visit 35385-35305-35155-34975-34860-34630 levels.

Trading Strategy: The members/followers/readers, those who invested during the recent low levles, try to book profit near 16700-16825 17000 or the stocks gives a profit 9-12-15% and wait for further correction to re-invest once again.

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.