11.07.22-Monday-8.34 am

 Good Morning Members

What has happened on Friday? Nifty Index, as expected and written, opened on a positive note at 16273.65, our expected opening band 16215-16250 on opening move, the Index made a day high 16275.50; thereafter, it moved down, made a day low 16157.90, further it moved up near day high and closed at 16220.60, on a positive note with an intra gain 87.70 points, i.e., 0.54%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a negative note with gap down by tracking the Asian Indices near 16160-16125 levels; if open, trade and sustain above 16160-16185 then, the index may re-test 16220-16235-16275-16305-16325-16385 levels. On the other hand, the immediate support at 16150-16125-16110: if, the Index moves below 16110 then, it may try to re-visit 16080-16050-16025-15985-15930 levels.

Special Mention: On Friday, the Nifty Index, continued the northward journey till our threshold resistance levels i.e., 16275 and closed above 16150 levels, today the Nifty Index must move and close above 16150-16275 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 and closes above 16175-16250-16320 then, it may try to re-visit 16025-15930-15660 levels very soon, the tehnical sell-off for two trading sessions are possible till 16025-15930 levels. Let see, how the Index opens today at 16160-16125 levels, this week the intra volatility may be in a high note due to the India inc. corportate results and weak global cues, trade with due caution till Jul'22,, avoid aggressive long and short positions.

Nifty Bank Index: Nifty Bank Index on Friday, opened at 35258.90, on the opening move, it made a day high 35262.10 thereafter, it moved down, made a day low 34977.75 and closed on a postive note at 35124.05 with an intra gain 203.75 points, i.e., 0.58%, today the Nifty Bank Index must move above 35170-35260 levels; if to do so, then it may try to re-test 35340-35460-35650-35850-36085 levels. On the other hand, any weakness near 35170-35260; further, it moves below 35045-34975-34900 then, the Index may re-visit 34800-34710-34620-34550-34430-34300 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.