21.06.22-Tuesday-8.34 am

Good Morning Members

What has happened yesterday? Nifty Index, contrary to our expectation, opened on a positive note at 15334.50, our expected opening band 15290-15235 on opening move, the Index made a day low 15191.10; thereafter, it moved up, made a day high 15382.50, and closed at 15350.15, on a positive note with an intra gain 56.65 points, i.e., 0.37%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a positive note near 15380-15400-15430 levels; if open, trade and sustain above 15430 then, the index may re-test 15460-15495-15525-15565-15600-15665-15715-15785 levels. On the other hand, the immediate support lies at 15325-15250; if, the Index moves below 15250 then, it may try to re-visit  15190-15140-15095-15000-14930-14860 levels.

Special Mention: Yesterday, the Nifty Index took support near our threshold support levels i.e., 15200; today, the Nifty Index must move above 15430 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 15435-15525 then, it may try to re-visit 15200-14900-14530 levels very soon; if, the Nifty Index moves and closes above 15355-15435 for three consecutive trading sessions then, it may test 15900-16170 levels, else any continuous weakness near 15435-15525, may drag the index to 14530-15150 very soon. Let see, how the Index opens today at 15380-15400-15435 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 32873.40, on the opening move, it made a day high 32926.10; thereafter, it moved down, made a day low 32426.40 and closed on a negative note at 32684.80 with an intra loss -58.25 points, i.e., -0.18%, today the Nifty Bank Index must move above 32780-32926 levels; if to do so, then it may try to re-test 33060-33190-33325-33440-33590-33755 levels. On the other hand, any weakness near 32780-32926-33060; further, it moves below 32545-32425 then, the Index may re-visit 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.