18.07.22-Monday-8.34 am

Good Morning Members

What has happened on Friday? Nifty Index, as expected and written, opened on a positive note at 16010.80, our expected opening band 15990-16010 on opening move, the Index made a high 16038; thereafter, it moved down, made a day low 15927.30, further moved up, made a day high 16066.95 and closed at 16049.20, on a positive note with an intra gain 110.55 points, i.e., 0.69%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a positive note with gap up near 16105-16150-16185 levels; if open, trade and sustain above 16185 then, the index may re-test 16225-16240-16275-16325 levels. On the other hand, the immediate support at 16065-16025; if, the Index moves below 16025 then, it may try to re-visit  15995-15960-15930-15890-15920 levels.

Special Mention: On Friday, the Nifty Index, took support near our threshold support levels, i.e., 15930 and closed below 16070 levels, today the Nifty Index must move and close above 16070-16105 levels; if to do so then, the index may re-test 16140-16250-16320-16490 levels in the near term. On the other hand, if the Index unable to move and closes above 16070-16105-16140 then, it may try to re-visit 15930-15800-15690 levels very soon. Let see, how the Index opens today at 16105-16150-16185 levels, this week the intra volatility may be in a high note due to 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 on Friday, opened at 34734.45, on the opening move, it made a day low 34463.90 thereafter, it moved up, made a day high 34899.95 and closed on a positive note at 34688.65 with an intra gain 31.45 points, i.e., 0.09%, today the Nifty Bank Index must move above 34899-35025 levels; if to do so, then it may try to re-test 35175-35225-35310-35420-35545-35650-35740-35835 levels. On the other hand, any weakness near 34899-35025; further, it moves below 34680-34565 then, the Index may re-visit 34465-34310-34075-33660 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.