19.07.22-Tuesday-8.34 am

Good Morning Members

What has happened yesterday? Nifty Index, as expected and written, opened on a positive note at 16151.40, our expected opening band 16150-16185 on opening move, the Index made a low 16142.20; thereafter, it moved up, made a day high 16287.95 and closed at 16278.50, on a positive note with an intra gain 229.30 points, i.e., 1.43%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a negative note near 16245-16225-16175 levels; if open, trade and sustain above 16245 then, the index may re-test 16285-16325-16340-16365-16390 levels. On the other hand, the immediate support at 16165-16140; if, the Index moves below 16140 then, it may try to re-visit 16125-16075-16030-15995-15960-15930-15910 levels.

Special Mention: Yesterday, the Nifty Index, continued the northward jouney beyond our threshold resistane levels, i.e., 16275 and closed near 16275 levels, today the Nifty Index must move and close above 16275-16325 levels; if to do so then, the index may re-test 16450-16490-16515 levels in the near term. On the other hand, if the Index unable to move and closes above 16275-16325 then, it may try to re-visit 16150-16070-15860 levels very soon. Let see, how the Index opens today at 16245-16225-16175 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 yesterday, opened at 34841.85, on the opening move, it made a day low 34804.40 thereafter, it moved up, made a day high 35382.50 and closed on a positive note at 35358.70 with an intra gain 676.05 points, i.e., 1.95%, today the Nifty Bank Index must move above 35382-35425 levels; if to do so, then it may try to re-test 35545-35650-35740-35835 levels. On the other hand, any weakness near 35382-35425; further, it moves below 35210-35000 then, the Index may re-visit 34940-34805-34680-34570-34465 levels.

Trading Strategy: The members/followers/readers, those who re-invested near 15350-15200 try to book profit near 16275-16320-16490 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.