06.06.22-Monday-8.34 am

Good Morning Members

What has happened on Friday? Nifty Index, as expected and written, opened on a positive note with gap up at 16761.65, our expected opening band 16700-16765-16795, on opening move, the Index made a high 16793.85; thereafter, it moved down, made a day low 16567.90 and closed at 16584.30, on a negative note with an intra loss -43.70 points, i.e., -0.26%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a negative note at 16570-16525-16505 levels; if open, trade and sustain above 16570 then, the index may re-test 16620-16655-16685-16720-16745-16670-16795-16820-16855 levels. On the other hand, the immediate support lies at 16505-16445; if, the Index moves below 16445 then, it may try to re-visit 16415-16395-16350-16265-16225 levels.

Special Mention: Yesterday, the Nifty Index unable to continue the pull back move above 16800 and moved down till 16567 and closed very well above 16555 levels, today, the Nifty Index must move above 16720-16795 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 16720-16795 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 16570-16525-16505 levels. Trade with caution till Jun'22 or first week of Jul'22. 

Nifty Bank Index: Nifty Bank Index on Friday, opened in 35929.55, on the opening move, it made a day high 35958.45; thereafter, it moved up, made a day low 35175.10 and closed on a negative note at 35275.05 with an intra loss -338.60 points, i.e., -0.95%, today the Nifty Bank Index must move above 35575-35730 levels; if to do so, then it may try to re-test 35960-36085-36110-36170-36240-36310-36390-36540-36720-36820 levels. On the other hand, any weakness near 35575-35730; further, it moves below 35175-34960 then, the Index may re-visit 34860-34630-34420-33945 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

For further details please do call us on 98410 48022 or contact thro' WhatsApp: 99624 70636. Please read carefully, the Disclaimer published in the Disclaimer page.

Wishing you for a safe, secured and profitable trading.