22.06.22-Wednesday-8.34 am

Good Morning Members

What has happened yesterday? Nifty Index, as expected and written, opened on a positive note at 15455.95, our expected opening band 15400-15430 on opening move, the Index made a day low 15419.85; thereafter, throughout the day, it moved up, made a day high 15707.25 and closed at 15638.80, on a positive note with an intra gain 288.65 points, i.e., 1.88%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a flat to negative note near 15625-15595-15550 levels; if open, trade and sustain above 15625 then, the index may re-test 15650-15675-15707-15745-15785-15825-15865 levels. On the other hand, the immediate support lies at 15555-15505; if, the Index moves below 15505 then, it may try to re-visit  15485-15445-15430-15400-15385-15345-15305-15270-15245-15190 levels.

Special Mention: Yesterday, the Nifty Index as expected the technical relief rally took the Index till 15707 and closed well above our threshold support levels i.e., 15430; today, the Nifty Index must move above 15625-15665-15707 evels; if to do so then, the index may re-test 15865-15990 levels in the near term. On the other hand, if the Index unable to move above 15625-15665-15707 then, it may try to re-visit 15430-15300-15190 levels very soon; if, the Nifty Index moves and closes above 15435-15700 for three consecutive trading sessions then, it may test 15990-16170 levels, else any continuous weakness near 15700-15430, may drag the index to 15190-15000 very soon. Let see, how the Index opens today at 15625-15590-15550 levels, the intra volatility may be high this week due to tomorrow's option weekly expiry, 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 32978.05, on the opening move, it made a day low 32797.55; thereafter, it moved up throughout the day, made a day high 33593.80 and closed on a positive note at 33191.75 with an intra gain 506.95 points, i.e., 1.55%, today the Nifty Bank Index must move above 33360-33595 evels; if to do so, then it may try to re-test 33640-33750-33810-34000-34125-34250 levels. On the other hand, any weakness near 33360-33595; further, it moves below 33145-32985 then, the Index may re-visit 32890-32795-32740-32580-32510 levels.

Trading Strategy: The members/followers/readers, those who re-invested near 15350-15200 try to booke partial profit near 15700-15900 or the stocks given profit 3-6%.

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.