07.06.22-Tuesday-8.34 am

Good Morning Members

What has happened yesterday? Nifty Index, as expected and written, opened on a negative note at 16530.70, our expected opening band 16570-16525-16505, on opening move, the Index made a low 16444.55; thereafter, it moved up, made a day high 16610.95 and closed at 16569.55, on a negative note with an intra loss -14.75 points, i.e., -0.09%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a negative note with gap down near 16560-16520-16485 levels; if open, trade and sustain above 16560 then, the index may re-test 16590-16610-16655-16685-16720-16745-16670-16795-16820-16855 levels. On the other hand, the immediate support lies at 16485-16445; if, the Index moves below 16445 then, it may try to re-visit 16415-16400-16350-16310-16265-16225-16185 levels.

Special Mention: Yesterday, the Nifty Index took support at our threshold levels i.e., 16445-16415, made a low 16444 and closed just above 16555 levels, today, the Nifty Index must move above 16610-16695 levels; if to do so then, the index may re-test 16795-16895-17025 levels in ther near term. On the other hand, if the Index unable to move above 16610-16695 then, it may try to re-visit once again 16415-16185 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 16560-16520-16485 levels. Trade with due caution till Jun'22 or first week of Jul'22. 

Nifty Bank Index: Nifty Bank Index yesterday, opened in 35159.15, on the opening move, it made a day low 35072.30; thereafter, it moved up, made a day high 35424.50 and closed on a postive note at 35310.20 with an intra gain 35.15 points, i.e., +0.10%, today the Nifty Bank Index must move above 35425-35520 levels; if to do so, then it may try to re-test 35635-35785-35865-35970-36085 levels. On the other hand, any weakness near 35425-35520; further, it moves below 35240-35155 then, the Index may re-visit 35115-35070-34975-34630-34500-34355-33945 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.