13.07.22-Wednesday-8.34 am

 Good Morning Members

What has happened on yesterday? Nifty Index, as expected and written, opened on a negative note at 16126.20, our expected opening band 16145-16080 on opening move, the Index made a day high 16158.75; thereafter, it moved down, made a day low 16031.15 and closed at 16058.30, on a negative note with an intra loss -157.70 points, i.e., -0.97%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a positive note near 16085-16120-16145 levels; if open, trade and sustain above 16145 then, the index may re-test 16160-16200-16225-16245-16275-16305-16325 levels. On the other hand, the immediate support at 16055-16025; if, the Index moves below 16025 then, it may try to re-visit 15985-15930-15895-15820-15800 levels.

Special Mention: Yesterday, the Nifty Index, as expected and written on 11th July, the technical sell-off dragged till our threshold support levels i.e., 16025, made a low 16031 and closed near 16050 levels, today the Nifty Index must move and close above 16120-16210 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 16120-16210 then, it may try to re-visit 15930-15660 levels very soon. Let see, how the Index opens today at 16085-16120-16145 levels, the intra volatility may be in a high note due to tomorrow weekly expiry, the India inc. corporate quarterly results and weak global cues, trade with due caution till Jul'22,, avoid aggressive short positions.

Nifty Bank Index: Nifty Bank Index yesterday, opened at 35298.70, on the opening move, it made a day high 35419.65 thereafter, it moved down, made a day low 35047.50 and closed on a negative note at 35132.25 with an intra loss -337.40 points, i.e., -0.95%, today the Nifty Bank Index must move above 35210-35310 levels; if to do so, then it may try to re-test 35375-35520-35650-35760-35850-35960 levels. On the other hand, any weakness near 35210-35310; further, it moves below 35045-34950 then, the Index may re-visit 34860-34820-34710-34600-34400 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.