13.06.22-Monday-8.34 am

Good Morning Members

What has happened on Friday? Nifty Index, as expected and written, opened on a negative note with gap down at 16283.95, our expected opening band 16235-16305-16270 on opening move, the Index made a day high 16324.70; thereafter, it moved  down, made a day low 16172.60 and closed at 16201.80, on a negative note with an intra loss -276.30 points, i.e., -1.68%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a negative note with gap down near 16070-15985-15905 levels; if open, trade and sustain above 16070 then, the index may re-test 16175-16225-16265-16325-16365-16390-16415 levels. On th other hand, the immediate support lies at 15905-15860; if, the Index moves below 15860 then, it may try to re-visit 15830-15795-15735-15700-15675-15620-15575 levels.

Special Mention:  On Friday, the Nifty Index unable to move above 16410 and closed well above 16245 levels, today, the Nifty Index must move above 16000-16175 levels; if to do so then, the index may re-test 16410-16515-16795 levels in the near term. On the other hand, if the Index unable to move above 16000-16175 then, it may try to re-visit 15735-15675-15355 levels very soon, the last hope for the Nifty Index lies at 15735-15675 levels; if, the Index move and closes below 15675 for three consecutive trading sessions then, it may re-visit 15350-15100 levels in the near term. Let see, how the Index opens today at 16070-15985-15905 levels. The intra volatility may be note this week due to global weakness and crude oil prices are soaring above $120 per barrel, trade with due caution till Jun'22 or first week of Jul'22, avoid aggressive long positions.

Nifty Bank Index: Nifty Bank Index on Friday, opened at 34686.95, on the opening move, it made a day high 34752.45; thereafter, it moved down, made a day low 34346.55 and closed on a negative note at 34483.80 with an intra loss -601.75 points, i.e., -1.71%, today the Nifty Bank Index must move above 34750-34860 levels; if to do so, then it may try to re-test 34950-35215-35345-35460 levels. On the other hand, any weakness near 3475-34860; further, it moves below 34230-33865 then, the Index may re-visit 33635-33520-3350-33180 levels.

Trading Strategy: The members/followers/readers, those who booked profit, try to re-invest partially near 15900-15750 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.