25.07.22-Monday-8.34 am

Good Morning Members

What has happened on Friday? Nifty Index, as expected and written, opened on a flat to positive note near 16661.25, our expected opening band 16625-16645 on opening move, the Index made a low 16610.90; thereafter, it moved up, made a day high 16752.25 and closed at 16719.45, on a positive note with an intra gain 114.20 points, i.e., 0.69%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a flat to negative note near 16695-16665 levels; if open, trade and sustain above 16695 then, the index may test 16710-16735-16755-16790-16835-16860-16895 levels. On the other hand, the immediate support lies at 16645-16610; if, the Index moves below 16610 then, it may try to re-visit 16575-16545-16515-16485-16445-16410 levels.

Special Mention: On Friday, the Nifty Index, continued the northward journey near our threshold resistance levels, i.e., 16793 and made a high 16752.25 and closed very well above 16625 levels, today the Nifty Index must surpass 16670-16750-16793 to continue the up move till 16895-17095 levels. On the other hand, if the Index unable to move and closes above 16710-16793 then, it may try to re-visit 16590-16490-16275 levels in the nearn term, the brief technical sell-off also possible till 16490-16275 levels. Let see, how the Index opens today at 16695-16665 levels, ths week, the intra volatility may be in a high note due to F&0 expiry, trade with due caution, avoid aggressive long and short positions.

Nifty Bank Index: Nifty Bank Index on Friday, opened at 36322.90, on the opening move, it made a day low 36286.35 thereafter, it moved up, made a day high 36823.45 and closed on a positive note at 36738.95 with an intra gain 537.95 points, i.e., 1.49%, today the Nifty Bank Index must move above 36825-36890-36970 levels; if to do so, then it may try to re-test  37120-37265-36410-37515 levels. On the other hand, any weakness near 36825-36890-36970; further, it moves below 36650-36550 then, the Index may re-visit 36415-36350-36290-36140-36110-35995-35890 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.