15.07.22-Friday-8.34 am

Good Morning Members

What has happened on yesterday? Nifty Index, as expected and written, opened on a flat to positive note at 16018.85, our expected opening band 15985-16018 on opening move, the Index made a day high 16070.85; thereafter, it moved down, made a day low 15858.20, further moved up and closed at 15938.65, on a negative note with an intra loss -28 points, i.e., -0.18%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a flat to positive note near 15955-15990-16010 levels; if open, trade and sustain above 15990-16010 then, the index may re-test 16025-16045-16070-16105-16128-16140-16165-16190-16205-16240-16275 levels. On the other hand, the immediate support at 15935-15900; if, the Index moves below 15900 then, it may try to re-visit 15880-15855-15820-15800-15750 levels.

Special Mention: Yesterday, the Nifty Index, as expected and written on 11th July, the technical sell-off dragged till further threshold support levels i.e., 15885-15855, made a low 15858.20 and closed near 15950 levels, today the Nifty Index must move and close above 16070-16115 levels; if to do so then, the index may re-test 16250-16320-16490 levels in the near term. On the other hand, if the Index unable to move and closes above 16070-16115 then, it may try to re-visit 15800-15690-15510 levels very soon. Let see, how the Index opens today at 15955-15990-16010 levels, the intra volatility may be in a high note due to today's week-end factor, the India inc. Corporate quarterly results and weak global cues, trade with due caution till Jul'22,, avoid aggressive long and short positions.

Nifty Bank Index: Nifty Bank Index yesterday, opened at 34817.95, on the opening move, it made a day high 35027.60 thereafter, it moved down, made a day low 34558.45 and closed on a negative note at 34651.20 with an intra loss -176.90 points, i.e., -0.51%, today the Nifty Bank Index must move above 34760-34890 levels; if to do so, then it may try to re-test 35035-35155-35255-35330-35430-35550-35650-35760-35810 levels. On the other hand, any weakness near 34760-34890; further, it moves below 34690-34560 then, the Index may re-visit 34430-35310-35200-34075-33660 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.