14.06.22-Tuesday-8.34 am

Good Morning Members

What has happened yesterday? Nifty Index, as expected and written, opened on a negative note with gap down at 15900.10, our expected opening band 16070-15985-15905 on opening move, the Index made a day high 15886.15; thereafter, it moved  down, made a day low 15684 and closed at 15774.40, on a negative note with an intra loss -427.40 points, i.e., -2.64%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a negative note near 15730-15705-15675 levels; if open, trade and sustain above 15730-15775 then, the index may re-test 15835-15885-15945-16005-16080-16100 levels. On th other hand, the immediate support lies at 15675-15630; if, the Index moves below 15630 then, it may try to re-visit 15605-15565-15515-15465-15420-15370 levels.

Special Mention: Yesterday, the Nifty Index witnessed a huge sell-off by tracking the global indices, made a day low near our threshold support levels i.e., 15675 and closed well below 15790 levels, today, the Nifty Index must move above 15790-15887 levels; if to do so then, the index may re-test 16130-16325-16415 levels in the near term. On the other hand, if the Index unable to move above 15790-15887 then, it may try to re-visit 15675-15505-15350 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 15730-15705-15675 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 and short positions.

Nifty Bank Index: Nifty Bank Index on yesterday, opened at 33728.65, on the opening move, it made a day high 33774.05; thereafter, it moved down, made a day low 33210.35 and closed on a negative note at 33405.85 with an intra loss -1077.95 points, i.e., -3.13%, today the Nifty Bank Index must move above 33455-33610 levels; if to do so, then it may try to re-test 33710-33775-33885-33930-34055-34230-34370 levels. On the other hand, any weakness near 33455-33610; further, it moves below 33210-33055 then, the Index may re-visit 32935-32790-32640-32510-32375-32155 levels.

Trading Strategy: The members/followers/readers, those who booked profit, try to re-invest near 15675-15350-15100 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.