24.06.22-Friday-8.34 am

Good Morning Members

What has happened yesterday? Nifty Index, as expected and written, opened on a flat to positive note at 15451.50, our expected opening band 15430-15400 on opening move, the Index made a day high 15628.45; thereafter, it moved down, made a day low 15367.50, further it moved near day high and closed at 15556.65, on a positive note with an intra gain 143.35 points, i.e., 0.93%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a positive note with gap up near 15590-15630-15665 levels; if open, trade and sustain above 15665 then, the index may re-test 15705-15745-15770-15800-15835-15865-15905 levels. On the other hand, the immediate support lies at 15550-15495; if, the Index moves below 15495 then, it may try to re-visit  15470-15430-15395-15365-15330-15295-15245 levels.

Special Mention: Yesterday, the Nifty Index, witnessed a high volatile move, made a day high 15628.45 and day low 15367.50 and closed with an engulfing bullish pattern at 15556.65; today, the Nifty Index must move above 15630-15707 levels; 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 15630-15707 then, it may try to re-visit 15360-15190-14900 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 15707, then it may re-test 16795 levels in the near term. Let see, how the Index opens today at 15590-15630-15665 levels, the intra volatility may be high 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 32927.40, on the opening move, it made a day high 33431.75; thereafter, it moved down, made a day low 32652.15 and closed on a positive note at 33135 with an intra gain 289.70 points, i.e., 0.88%, today the Nifty Bank Index must move above 33305-33430 levels; if to do so, then it may try to re-test 33540-33645-33755-33940-34135 levels. On the other hand, any weakness near 33305-33430; further, it moves below 32960-32835 then, the Index may re-visit 32745-32650-32545-32440-32300-32155 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.