07.07.22-Thursday-8.34 am

Good Morning Members

What has happened yesterday? Nifty Index, as expected and written, opened on a flat note at 15818.20, our expected opening band 15810-15765 on opening move, the Index made a day low 15800.90; thereafter, it moved down made a day high 16011.35 and closed at 15989.80, on a positive note with an intra gain 178.95 points, i.e., 1.13%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a positive note near 16025-16065 levels; if open, trade and sustain above 16065 then, the index may re-test 16085-16125-16175-16205-16250 levels. On the other hand, the immediate support at 15950-15910: if, the Index moves below 15910 then, it may try to re-visit 15875-15850-15825-15795-15745 levels.

Special Mention: Yesterday, the Nifty Index, made a support near 15800 and moved up  near 16k and closed well above 15930, today the Nifty Index must move above 16025-16070 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 16025-16070 then, it may try to re-visit 15660-15510 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 16025-16065 levels, this week the intra volatility may be in a high note due to today's weekly option expiry and tomorrow's week-end factor, trade with due caution till second week of Jul'22, avoid aggressive short positions.

Nifty Bank Index: Nifty Bank Index on yesterday, opened at 33924.70, on the opening move, it made a day high 34388.50 thereafter, it moved down, made a day low 33876.15 and closed on a postive note at 34324.25 with an intra gain 508.35 points, i.e., 1.50%, today the Nifty Bank Index must move above 34410-34530 levels; if to do so, then it may try to re-test 34635-34750-34805-34970-35120 levels. On the other hand, any weakness near 34410-34530; further, it moves below 34150-33995 then, the Index may re-visit  33875-33740-33520-33290 levels.

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