30.06.22-Thursday-8.47 am

Good Morning Members

What has happened on yesterday? Nifty Index, as expected and written, opened on a negative note with gap down at 15701.70, our expected opening band 15765-15730-15710 on opening move, the Index made a day low 15687.80; thereafter, it moved up, made a day high 15861.60 and closed at 15799.10, on a negative note with an intra loss -32.95 points, i.e., -0.21%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a flat note near 15780-15810 levels; if open, trade and sustain above 15810 then, the index may re-test 15840-15860-15885-15910-15930-15970-16015 levels. On the other hand, the immediate support at 15730-15700-15685: if, the Index moves below 15685 then, it may try to re-visit 15645-15595-15545-15495-15435 levels.

Special Mention: Yesterday, the Nifty Index, unable to continue the pull back rally beyond till 15890-15927 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 15780-15810 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 33273.55, on the opening move, it made a day low 33185.25; thereafter, it moved up, made a day high 33422.80 and closed on a negative note at 33269.90 with an intra loss -541.35 points, i.e., -1.60%, today the Nifty Bank Index must move above 33360-33425 levels; if to do so, then it may try to re-test 33480-33590-33670-33780-33950-34145 levels. On the other hand, any weakness near 33360-33425; further, it moves below 33185-33120 then, the Index may re-visit 33000-32650-32545-32440 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.