17.06.22-Friday-8.34 am

Good Morning Members

What has happened yesterday? Nifty Index, as expected and written, opened on a positive note at 15832.25, our expected opening band 15750-15785 on opening move, the Index made a day high 15863.15; thereafter, it moved down throughout the day, made a day low 15335.10, and closed at 15360.50, on a negative note with an intra loss -331.55 points, i.e., -2.11%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a flat to negative note 15360-15335-15305 levels; if open, trade and sustain above 15360-15395 then, the index may re-test 15435-15545-15475-15505-15550-15600-15630-15660-15710 levels. On the other hand, the immediate support lies at 15305-15270; if, the Index moves below 15270 then, it may try to re-visit 15230-15190-15150-15110-15055 levels.

Special Mention: Yesterday, the Nifty Index witnessed the sell-off and tested our threshold support levels i.e., 15355 and closed just above 15355 levels, today, the Nifty Index must move above 15430-15475 levels; if to do so then, the index may re-test 15600-15865 levels in the near term. On the other hand, if the Index unable to move above 15430-15475 then, it may try to re-visit 15200-14900 levels very soon, the last hope for the Nifty Index lies at 15350 levels; if, the Index move and closes below 15350 for three consecutive trading sessions then, it may re-visit 15100-14900 levels in the near term. Let see, how the Index opens today at 15360-15335-15305 levels, we can expect a brief technical pull-back till 16150 in the near term, the intra volatility may be note due to today's week-end factor, trade with due caution till Jun'22 or second week of Jul'22, avoid aggressive long or short positions.

Nifty Bank Index: Nifty Bank Index on yesterday, opened at 33648.80, on the opening move, it made a day high 33756.50; thereafter, it moved down throughout the day, made a day low 32537.95 and closed on a negative note at 32617.10 with an intra loss -1045.60 points, i.e., -2.17%, today the Nifty Bank Index must move above 32775-32825 levels; if to do so, then it may try to re-test 33030-33145-33220-33350-33400-33450-33500-33620-33755 levels. On the other hand, any weakness near 32775-32825; further, it moves below 32540-32370 then, the Index may re-visit 32200-32155-32005-31865-31725 levels.

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