15.06.22-Wednesday-8.34 am

Good Morning Members

What has happened yesterday? Nifty Index, as expected and written, opened on a negative note at 15674.25, our expected opening band 15730-15705-15675 on opening move, the Index made a day low 15659.45; thereafter, it moved up, made a day high 15858 and closed at 15732.10, on a negative note with an intra loss -42.30 points, i.e., -0.27%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a flat to positive note near 15730-15760-15795 levels; if open, trade and sustain above 15795-15805 then, the index may re-test 15835-15860-15888-15910-15945-16005-16080-16100 levels. On the other hand, the immediate support lies at 15705-15680; if, the Index moves below 15680 then, it may try to re-visit 15665-15635-15605-15565-15515-15465-15420 levels.

Special Mention: Yesterday, the Nifty Index took the support near our threshold support levels i.e., 15670 and closed very well below 15790 levels, today, the Nifty Index must move above 15860-15880 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 15790-15860-15885 then, it may try to re-visit 15675-15505-15350 levels very soon, the last hope for the Nifty Index lies at 15675-15605 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 15730-15760-15795 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 33180.60, on the opening move, it made a day low 33123.90; thereafter, it moved up, made a day high 33618.35 and closed on a negative note at 33311.45 with an intra loss -94.50 points, i.e., -0.28%, today the Nifty Bank Index must move above 33475-33620 levels; if to do so, then it may try to re-test 33750-33885-33930-34065-34230-34370 levels. On the other hand, any weakness near 33475-33610; further, it moves below 33125-32990 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 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.