21.07.22-Thursday-8.34 am

Good Morning Members

What has happened yesterday? Nifty Index, as expected and written, opened on a positive note with gap up near 16562.80, our expected opening band 16490-16515 on opening move, the Index made a high16588; thereafter, it moved down, made a day low 16490.95 and closed at 16520.85, on a positive note with an intra gain 180.30 points, i.e., 1.10%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a flat note near 16520-16490 levels; if open, trade and sustain above 16520-16560 then, the index may re-test 16588-16615-16650-16695-16740-16795 levels. On the other hand, the immediate support at 16460-16435; if, the Index moves below 16435 then, it may try to re-visit 16405-16375-16360-16340-16310-16275-16220-16175 levels.

Special Mention: Yesterday, the Nifty Index, continued the northward journey beyond our threshold resistane levels, i.e., 16275 and made a high 16588; further, it closed very well above 16275 levels for the three consecutive trading sessions, as written already, the Nifty Index moved near 16610,  today the Nifty Index must surpass 16610 to continue the up move till 16795 levels very soon. On the other hand, if the Index unable to move and closes above 16610 then, it may try to re-visit 16375-16275-16160-16030 levels in the nearn term, the brief technical sell-off also possible till 16275-16170 levels. Let see, how the Index opens today at 16520-16490 levels, intra volatility may be in a high note due to today's option weekly expiry and tomorrow's week-end, trade with due caution, avoid aggressive long and short positions.

Nifty Bank Index: Nifty Bank Index yesterday, opened at 36061.30, on the opening move, it made a day high 36182.70 thereafter, it moved down, made a day low 35876.55 and closed on a positive note at 35972.10 with an intra gain 251.75 points, i.e., 0.70%, today the Nifty Bank Index must move above 36060-36180 levels; if to do so, then it may try to re-test 36265-36390-36535-36580-36825 levels. On the other hand, any weakness near 36060-36180; further, it moves below 35875-35795-35760 then, the Index may re-visit 35680-35545-35325-35160-35045 levels.

Trading Strategy: The members/followers/readers, those who re-invested near 15350-15200 try to book full profit near 16580-16610-16795 or the stocks given profit 12-18%.

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.