23.06.22-Thursday-8.34 am

Good Morning Members

What has happened yesterday? Nifty Index, as expected and written, opened on a negative note at 15545.65, our expected opening band 15595-15550 on opening move, the Index made a day high 15565.40; thereafter, it moved down, made a day low 15385.95 and closed at 15413.30, on a negative note with an intra loss -225.50 points, i.e., -1.44%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a flat note near 15430-15400-15360 levels; if open, trade and sustain above 15430 then, the index may re-test 15475-15510-15565-15600-15630-15655-15705 levels. On the other hand, the immediate support lies at 15355-15335; if, the Index moves below 15335 then, it may try to re-visit  15305-15270-15245-15190-15150-15125-15080-15040 levels.

Special Mention: Yesterday, the Nifty Index, failed to continue the relief rally, moved down and took support near our threshold support levels i.e., 15400 and closed just above the support levels at 15413.30; today, the Nifty Index must move above 15430-15555 evels; if to do so then, the index may re-test 15700-15865-15990 levels in the near term. On the other hand, if the Index unable to move above 15430-15555 then, it may try to re-visit 15190-15000-14900 levels very soon; if, the Nifty Index moves and closes below 15430-15400 for three consecutive trading sessions then, it may re-visit 15190-14900 levels, else any up move above 15705, then it may re-test 16795 levels in the near term. Let see, how the Index opens today at 15430-15400-15360 levels, the intra volatility may be high this week due to today's option weekly expiry and tomorrow'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 33051.65, on the opening move, it made a day high 33106.95; thereafter, it moved down, made a day low 32758.15 and closed on a negative note at 32845.30 with an intra loss -346.45 points, i.e., -1.04%, today the Nifty Bank Index must move above 33000-33105 levels; if to do so, then it may try to re-test 33200-33305-33345-33410-33500-33595-33640 levels. On the other hand, any weakness near 33000-33105; further, it moves below 32760-32660 then, the Index may re-visit 32530-32400-32280-32155 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.