06.07.22-Wednesday-8.34 am

Good Morning Members

What has happened yesterday? Nifty Index, as expected and written, opened on a positive note at 15909.15, our expected opening band 15835-15855-15875 on opening move, the Index made a day high 16025.75; thereafter, it moved down made a day low 15785.45 and closed at 15810.85, on a negative note with an intra loss -24.20 points, i.e., -0.15%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a flat note near 15810-15785-15765 levels; if open, trade and sustain above 15810 then, the index may re-test 15845-15885-15905-15955-15975-15998-16025-16040-16090 levels. On the other hand, the immediate support at 15765-15720: if, the Index moves below 15720 then, it may try to re-visit 15665-15635-15610-15560-15510 levels.

Special Mention: Yesterday, the Nifty Index, continued the upward move and tested 16025 and got sold-off once again till 15785 and closed well below 15930, today the Nifty Index must move above 15930-16025 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 15930-16025 then, it may try to re-visit 15660-15510-15430-15365 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 15810-15785-15765 levels, this week the intra volatility may be in a high note due to tomorrow's weekly option expiry, 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 34084.70, on the opening move, it made a day high 34361.05 thereafter, it moved down, made a day low 33757 and closed on a negative note at 33815.90 with an intra loss -125 points, i.e., -0.37%, today the Nifty Bank Index must move above 34105-34185 levels; if to do so, then it may try to re-test 34230-34360-34435-34525-34635 levels. On the other hand, any weakness near 34105-34185; further, it moves below 33755-33720-33660 then, the Index may re-visit  33600-33385-33230-33080-32860-32650 levels.

Trading Strategy: The members/followers/readers, those who re-invested near 15350-15200 try to book profit near 15930-16025-16170 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.