27.07.22-Wednesday-8.34 am

Good Morning Members

What has happened on Tuesday? Nifty Index, as expected and written, opened on a flat note at 16632.90, our expected opening band 16650-16625-16605 on opening move, the Index made a high 16636.10; thereafter, it moved down, made a day low 16478.35 and closed at 16483.65, on a negative note with an intra loss -147.15 points, i.e., -0.88%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a flat to negative note near 16485-16465-16450 levels; if open, trade and sustain above 16485-16505 then, the index may test 16550-16570-16585-16600-16635-16835-16685-16705-16750 levels. On thether hand, the immediate support lies at 16450-16410; if, the Index moves below 16410 then, it may try to re-visit 16385-16360-16320-16305-16275-16220 levels.

Special Mention: Yesterday, the Nifty Index, continued the down move, made a low near our threshold support zone i.e., 16485-16450-16415 and closed near 16485 levels; today, the Nifty Index must surpass 16570-16635 to continue the up move till 16795-16895-17095 levels. On the other hand, if the Index unable to move and closes above 16570-16635 then, it may try to re-visit 16360-16275-16220 levels in the near term, as expected and written on 25th July, the brief technical sell-off dragged down the Nifty till 16463, if the Nifty moves below 16450-16410 then, it may re-visit 16360-16275 levels. Let see, how the Index opens today at 16485-16465-16450 levels, the intra volatility may be in a high note due to today's US FED Meet and tomorrow's F&0 expiry, trade with due caution, avoid aggressive long and short positions.

Nifty Bank Index: Nifty Bank Index yesterday, opened at 36688.85, on the opening move, it made a day high 36695.75 thereafter, it moved down, made a day low 36344.10 and closed on a negative note at 36408.50 with an intra loss -317.90 points, i.e., -0.87%, today the Nifty Bank Index must move above 36525-36695 levels; if to do so, then it may try to re-test 36800-36865-36935-37010-37195-37380 levels. On the other hand, any weakness near 36525-36695; further, it moves below 36335-36235 then, the Index may re-visit 36150-36020-35890-35740 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.