16.06.22-Thursday-8.34 am

Good Morning Members

What has happened yesterday? Nifty Index, as expected and written, opened on a flat note at 15729.25, our expected opening band 15730-15760-15795 on opening move, the Index made a day low 15678.90; thereafter, it moved up, made a day high 15783.65, further it moved down near day low and closed at 15692.15, on a negative note with an intra loss -39.95 points, i.e., -0.25%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a positive note near 15750-15780-15785 levels; if open, trade and sustain above 15785-15810 then, the index may re-test 15835-15860-15888-15910-15945-16005-16080-16100-16135 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, made an inside day pattern i.e., not broken the previous day high or low levels and closed just above 15685 levels, today, the Nifty Index must move above 15785-15860-15885 levels; if to do so then, the index may re-test 16170-16225-16360 levels in the near term. On the other hand, if the Index unable to move above 15785-15860-15885 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, we can expect a brief technical pull-back till 16150-16400 in the near term, it may happen today or tomorrow, the intra volatility may be note due to today's weekly option expiry and tomorrow's week-end factor, trade with due caution till Jun'22 or second week of Jul'22, avoid aggressive short positions.

Nifty Bank Index: Nifty Bank Index on yesterday, opened at 33317.80, on the opening move, it made a day low 33249.45; thereafter, it moved up, made a day high 33554.55 and closed on a positive note at 33339 with an intra marginal gain 27.65 points, i.e., 0.08%, today the Nifty Bank Index must move above 33465-33555 levels; if to do so, then it may try to re-test 33635-33675-33775-33885-34065-34230-34370 levels. On the other hand, any weakness near 33465-33555; further, it moves below 33250-33165 then, the Index may re-visit 33125-33005-32935-32790-32640-32510-32375-32155 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.