04.07.22-Monday-8.34 am

Good Morning Members

What has happened on Friday? Nifty Index, as expected and written, opened on a negative note at 15703.70, our expected opening band 15730-15765 on opening move, the Index made a day low 15511.05; thereafter, it moved up made a day high 15793.95 and closed at 15752.05, on a negative note with an intra loss -28.20 points, i.e., -0.18%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a flat to negative note near 15750-15710 levels; if open, trade and sustain above 15750-15795-15805 then, the index may re-test 15835-15870-15890-15935-15970-16015-16040 levels. On the other hand, the immediate support at 15685-15635: if, the Index moves below 15635 then, it may try to re-visit 15575-15545-15511-15475-15435-15370 levels.

Special Mention: On Friday, the Nifty Index, continued the weakness and dragged down till 15511 and closed well above 15685 15760, today the Nifty Index must move above 15810-15845 levels; if to do so then, the index may re-test 15930-16170 levels in the near term. On the other hand, if the Index unable to move above 15810-15845 then, it may try to re-visit 15510-15430-15365 levels very soon; if, the Nifty Index moves and closes below 15685 for three conescutive trading sessions then, it may re-visit 15365-15200 levels in the near term. Let see, how the Index opens today at 15750-15710 levels, this week the intra volatility may be in a high note due to weak global cues, trade with due caution till second week of Jul'22, avoid aggressive long or short positions.

Nifty Bank Index: Nifty Bank Index on yesterday, opened at 33264.75, on the opening move, it made a day low 33080.45; thereafter, it moved up, made a day high 33666.50 and closed on a positive note at 33539.45 with an intra gain 114.35 points, i.e., 0..34%, today the Nifty Bank Index must move above 33666-33825 levels; if to do so, then it may try to re-test 33860-33950-34040-34145-34260-34410 levels. On the other hand, any weakness near 33666-33825; further, it moves below 33425-33375 then, the Index may re-visit  33220-33080-32920-32730-32510-32440-32290 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.