26.07.22-Tuesday-8.34 am

Good Morning Members

What has happened on Tuesday? Nifty Index, as expected and written, opened on a flat to negative note at  16662.55, our expected opening band 16695-16645 on opening move, the Index made a high 16706.05; thereafter, it moved down, made a day low 16564.25, further it moved near day high and closed at 16631, on a negative note with an intra loss -88.45 points, i.e., -0.53%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a flat note near 16650-16625-16605 levels; if open, trade and sustain above 16630-16665 then, the index may test 16710-16735-16755-16790-16835-16860-16895 levels. On the other hand, the immediate support lies at 16605-16565; if, the Index moves below 16545 then, it may try to re-visit 16545-16525-16485-16445-16410-16360 levels.

Special Mention: Yestereday, the Nifty Index, unable to continue the northward journey beyond 16710 and made a high 16706 and moved down till 16564 and closed near 16610 levels; today, the Nifty Index must surpass 16665-16710-16750 to continue the up move till 16895-17095 levels. On the other hand, if the Index unable to move and closes above 16665-16710 then, it may try to re-visit 16490-16360-16275 levels in the near term, as expected and writte; yesterday, the brief technical sell-off dragged down the Nifty till 16564, if the Nifty moves below 16565-16500 then, it may re-visit 16360-16275 levels. Let see, how the Index opens today at 16650-16625-16605 levels, this 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 yesterday, opened at 36766.70, on the opening move, it made a day high 37011.20 thereafter, it moved down, made a day low 36464.65 and closed on a negative note at 36726.40 with an intra loss -12.55 points, i.e., -0.03%, today the Nifty Bank Index must move above 36890-37011-37160 levels; if to do so, then it may try to re-test 37265-37380-37540-37700 levels. On the other hand, any weakness near 36890-37011-37160; further, it moves below 36665-36465 then, the Index may re-visit 36315-36140-36150-36020-35890 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.