22.07.22-Friday-8.34 am

Good Morning Members

What has happened yesterday? Nifty Index, as expected and written, opened on a flate note near 16523.55, our expected opening band 16520-16490 on opening move, the Index made a low 16483.90; thereafter, it moved up, made a day high 16626.95 and closed at 16605.25, on a positive note with an intra gain 84.40 points, i.e., 0.51%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a flat to positive note near 16605-16625-16645 levels; if open, trade and sustain above 16645 then, the index may test 16665-16695-16740-16795-16825 levels. On the other hand, the immediate support lies at 16585-16555; if, the Index moves below 16555 then, it may try to re-visit 16525-16485-16460-16445-16405--16360-16340-16310-16290-16275-16220-16175 levels.

Special Mention: Yesterday, the Nifty Index, continued the northward journey beyond our threshold resistane levels, i.e., 16275 and made a high 16626.95; further, it closed very well above 16275 levels for the fourth consecutive trading sessions, as written already, the Nifty Index moved near our threshold resistance levels i.e., 16610,  today the Nifty Index must surpass 16610-16627 to continue the up move till 16795 levels, on the other hand, if the Index unable to move and closes above 16610-16626 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 16605-16625-16645 levels, intra volatility may be in a high note due to today's week-end factor, trade with due caution, avoid aggressive long and short positions.

Nifty Bank Index: Nifty Bank Index yesterday, opened at 36026.55, on the opening move, it made a day low 35887.35 thereafter, it moved up, made a day high 36331.70 and closed on a positive note at 36201 with an intra gain 228.90 points, i.e., 0.64%, today the Nifty Bank Index must move above 36260-36331 levels; if to do so, then it may try to re-test 36390-36450-36535-36580-36700-36825 levels. On the other hand, any weakness near 36260-36331; further, it moves below 36110-36070 then, the Index may re-visit 35990-35940-35880-35760-35650-35545-35420-35210-35005 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.