05.07.22-Tuesday-8.34 am

Good Morning Members

What has happened yesterday? Nifty Index, as expected and written, opened on a negative note at 15710.50, our expected opening band 15750-15795 on opening move, the Index made a day low 15661.80; thereafter, it moved up made a day high 15852.35 and closed at 15835.35, on a positive note with an intra gain 83.20 points, i.e., 0.53%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a flat to positive note near 15835-15855-15875 levels; if open, trade and sustain above 15875 then, the index may re-test 15905-15927-15945-15970-15995-16025-16040-16085 levels. On the other hand, the immediate support at 15795-15765: if, the Index moves below 15765 then, it may try to re-visit 15735-15705-15665-15635-15610-15560-15510 levels.

Special Mention: Yesterday, the Nifty Index, took support near 15665 and moved up till 15850 and closed well above 15805, today the Nifty Index must move above 15855-15925 levels; if to do so then, the index may re-test 16170-16320 levels in the near term. On the other hand, if the Index unable to move above 15855-15925 then, it may try to re-visit 15510-15430-15365 levels very soon; if, the Nifty Index moves and closes above 15925 for three conescutive trading sessions then, it may re-test 16300-16500-16790 levels in the near term. Let see, how the Index opens today at 15835-15855-15875 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 33585.85, on the opening move, it made a day low 33515.60 thereafter, it moved up, made a day high 33978.50 and closed on a positive note at 33940.90 with an intra gain 401.45 points, i.e., 1.20%, today the Nifty Bank Index must move above 34105-34150 levels; if to do so, then it may try to re-test 34185-34260-34345-34435-34530-34635 levels. On the other hand, any weakness near 34105-34150; further, it moves below 33840-33660 then, the Index may re-visit  33515-33390-33210-33080-32920-32790 levels.

Trading Strategy: The members/followers/readers, those who re-invested near 15350-15200 try to book profit near 15930-16170-16300 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.