08.07.22-Friday-8.34 am

Good Morning Members

What has happened yesterday? Nifty Index, as expected and written, opened on a positive note with gap up at 16113.75, our expected opening band 16025-16065 on opening move, the Index made a high 16139.95; thereafter, it moved down made a day low 16045.95, further it moved up, made a day high 16150.50 and closed at 16132.90, on a positive note with an intra gain 143.10 points, i.e., 0.89%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a positive note near 16180-16215-16250 levels; if open, trade and sustain above 16250 then, the index may re-test 16285-16325-16350-16385 levels. On the other hand, the immediate support at 16110-16070: if, the Index moves below 16070 then, it may try to re-visit 16045-16005-15965-15930 levels.

Special Mention: Yesterday, the Nifty Index, continued the northward journey and closed above 15930 for two consecutive trading sessions, as expected it moved near our threshold resistance levels i.e, 16175, made a high 16150 and closed at 16132.90, today the Nifty Index must move above 16175-16250 levels; if to do so then, the index may re-test 16320-16490 levels in the near term. On the other hand, if the Index unable to move above 16175-16250-16320 then, it may try to re-visit 16025-15930-15660 levels very soon. Let see, how the Index opens today at 16180-16215-16250 levels, the intra volatility may be in a high note due to today'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 34624.70, on the opening move, it made a day low 34553.10 thereafter, it moved up, made a day high 34965.75 and closed on a postive note at 34920.30 with an intra gain 596.05 points, i.e., 1.74%, today the Nifty Bank Index must move above 35075-35125-35275 levels; if to do so, then it may try to re-test 35460-35650-35850-36085 levels. On the other hand, any weakness near 35075-35125-35275; further, it moves below 34845-34760 then, the Index may re-visit 34660-34555-34440-34335 levels.

Trading Strategy: The members/followers/readers, those who re-invested near 15350-15200 try to book profit near 16250-16320-16490 or the stocks given profit 9-15%.

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.