29.06.22-Wednesday-8.47 am

Good Morning Members

What has happened on yesterday? Nifty Index, as expected and written, opened on a negative note at 15757.45, our expected opening band 15815-15755 on opening move, the Index made a day low 15710.15; thereafter, it moved up, made a day high 15892.10 and closed at 15850.20, on a positive note with an intra gain 18.15 points, i.e., 0.11%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a negative note with gap down near 15765-15730-15710 levels; if open, trade and sustain below 15710 then, the index may re-visit 15660-15630-15595-15550-15500-15435-15370 levels. On the other hand, the immediate resistance at 15815-15850: if, the Index moves above 15850 then, it may try to re-test 15890-15927-15960-16000 levels.

Special Mention: Yesterday, the Nifty Index, unable to continue the pull back rally beyond till 15890-15927, moved down till 15710 and closed very well above 15760, today the Nifty Index must move above 15815-15890 levels; if to do so then, the index may re-test 15990-16170 levels in the near term. On the other hand, if the Index unable to move above 15815-15890 then, it may try to re-visit 15700-15660 levels very soon; if, the Nifty Index moves and closes below 15700 for three conescutive trading sessions then, it may re-visit 15430-15200 levels in the near term. Let see, how the Index opens today at 15765-15710-15660 levels, this week the intra volatility may be in a high note due to F&O 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 33578.20, on the opening move, it made a day low 33503.30; thereafter, it moved up, made a day high 33745.30 and closed on a negative note at 33642.45 with an intra loss -168.80 points, i.e., -0.50%, today the Nifty Bank Index must move above 33750-33810 levels; if to do so, then it may try to re-test 33970-34145-34355-34535 levels. On the other hand, any weakness near 33750-33810; further, it moves below 33605-33500 then, the Index may re-visit 33430-33300-32650-32545-32440 levels.

Trading Strategy: The members/followers/readers, those who re-invested near 15350-15200 try to booke partial profit near 15900-16170 or the stocks given profit 6-9%.

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.