01.07.22-Friday-8.34 am

Good Morning Members

What has happened on yesterday? Nifty Index, as expected and written, opened on a flat note at 15774.50, our expected opening band 15780-15810 on opening move, the Index made a day high 15890; thereafter, it moved down made a day low 15728.85 and closed at 15780.25, on a negative note with an intra loss -18.85 points, i.e., -0.12%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a negative note near 15730-15705-15685 levels; if open, trade and sustain above 15730-15765 then, the index may re-test 15810-15835-15852-15890-15935-15970-16015 levels. On the other hand, the immediate support at 15705-15685: if, the Index moves below 15685 then, it may try to re-visit 15645-15595-15545-15495-15435-15400-15370 levels.

Special Mention: Yesterday, the Nifty Index, unable to continue the pull back rally beyond till 15890-15927 and closed just above 15760, today the Nifty Index must move above 15845-15890 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 15845-15890 then, it may try to re-visit 15660-15430 levels very soon; if, the Nifty Index moves and closes below 15685 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 15730-15705-15685 levels, this week the intra volatility may be in a high note due to week-end factor or second week of Jul'22, avoid aggressive long or short positions.

Nifty Bank Index: Nifty Bank Index on yesterday, opened at 33180.70, on the opening move, it made a day high 33659.30; thereafter, it moved down, made a day low 33179.60 and closed on a positive note at 33425.10 with an intra gain 155.20 points, i.e., -1.60%, today the Nifty Bank Index must move above 33535-33660 levels; if to do so, then it may try to re-test 33785-33950-34145-34260-34410 levels. On the other hand, any weakness near 33535-33660; further, it moves below 33290-33180 then, the Index may re-visit 33050-32940-32730-32510-32440-32290 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.