20.06.22-Monday-8.46 am

Good Morning Members

What has happened on Friday? Nifty Index, as expected and written, opened on a negative note at 15272.65, our expected opening band 15335-15305 on opening move, the Index made a day low 15183.40; thereafter, it moved up, made a day high 15400.40, and closed at 15293.50, on a negative note with an intra loss -67.10 points, i.e., -0.44%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a flat to negative note 15290-15235 levels; if open, trade and sustain above 15290-15335 then, the index may re-test 15355-15400-15460-15525-15600-15660 levels. On the other hand, the immediate support lies at 15305-15270; if, the Index moves below 15185-15125 then, it may try to re-visit  15095-15065-15030-14995-15925-14860 levels.

Special Mention: On Friday, the Nifty Index traded in narrow range and closed well below our threshold support levels i.e., 15355; today, the Nifty Index must move above 15335-15435 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 15335-15430 then, it may try to re-visit 14900-14530 levels very soon, the Nifty Index must move aboove 15355-15430 and close above  for three consecutive sessions then, it may move up else, the continuous weakness near 15355 may drag the index to 14530-15150 very soon. Let see, how the Index opens today at 15290-15235 levels, we can expect a brief technical pull-back any time till 15750 in the near term, the intra volatility may be high this week due to global weakness, 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 32393.45, on the opening move, it made a day low 32290.55; thereafter, it moved up, made a day high 32889.80 and closed on a positive note at 32617.10 with an intra gain 125.45 points, i.e., 0.39%, today the Nifty Bank Index must move above 32890-33050 levels; if to do so, then it may try to re-test 33190-33325-33450-33590-33755 levels. On the other hand, any weakness near 32890-33050; further, it moves below 32535-32430 then, the Index may re-visit 32360-32290-32190-32155-32070 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.