09.06.22-Thursday-8.34 am

Good Morning Members

What has happened yesterday? Nifty Index, as expected and written, opened on a positive note at 16474.95, our expected opening band 16490-16525-16565 on opening move, the Index made a low 16293.95; thereafter, it moved up and made a day high 16514.30, further it moved down near day low and closed at 16356.25, on a negative note with an intra loss -60.10 points, i.e., -0.37%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a negative note with gap down near 16265-16235-16205 levels; if open, trade and sustain above 16265 then, the index may re-test 16310-16345-16375-16405-16450-16490-16515-16575 levels. On the other hand, the immediate support lies at 16220-16205; if, the Index moves below 16205 then, it may try to re-visit 16190-16150-16115-16065-16010-15985-15955-15905 levels.

Special Mention: Yesterday, the Nifty Index unable to move above 16525 and closed well below 16415 levels, today, the Nifty Index must move above 16345-16415 levels; if to do so then, the index may re-test 16525-16610-16795 levels in the near term. On the other hand, if the Index unable to move above 16345-16415 then, it may try to re-visit once again 16185-16000-15905 levels in the near term, the last hope for the Nifty Index lies at 16400, the Index already closed yesterday below the threshold support i.e., 16400, if further close below 16400 levels for two more trading sessions then, the Index may re-test 15900-15775-15675 levels in the near term. Let see, how the Index opens today at 16265-16225-16205 levels. The intra volatility may be in a high note due to today's weekly option expiry and tomorrow's week-end factor, trade with due caution till Jun'22 or first week of Jul'22. 

Nifty Bank Index: Nifty Bank Index yesterday, opened in 35165.65, on the opening move, it made a day high 35449.90; thereafter, it moved down, made a day low 34831.75 and closed on a negative note at 34964.15 with an intra loss -31.85 points, i.e., -.0.09%, today the Nifty Bank Index must move above 35000-35155 levels; if to do so, then it may try to re-test 35270-35320-35450-35530-35615-35720-35815-35940-36085 levels. On the other hand, any weakness near 35000-35155; further, it moves below 34905-34830 then, the Index may re-visit 34780-34665-34630-34525-34355-34135-34115-33865-33635 levels.

Trading Strategy: The members/followers/readers, those who booked profit, try to re-invest partially near 15900-15700 levels for a medimum term perspective to gain 6-9% return in the near term.

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.