28.07.22-Thursday-8.34 am

God Morning Members

What has happened yesterday? Nifty Index, as expected and written, opened on a flat to negative note at 16475.35, our expected opening band 16485-16465 on opening move, the Index made a low 16438.75; thereafter, it moved up, made a day high 16653.45 and closed at 16641.80, on a positive note with an intra gain 157.95 points, i.e., 0.96%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a positive note near 16710-16750-16795 levels; if open, trade and sustain above 16795 then, the index may test 16845-16870-16895-16925-16945 levels. On thether hand, the immediate support lies at 16655-16610; if, the Index moves below 16610 then, it may try to re-visit 16565-16525-16485-16460-16435 levels.

Special Mention: Yesterday, the Nifty Index, took support near our threshold support zone i.e., 16450-16415, further moved up tll 16653 and closed near the resistance levels i.e.,16660; today, the Nifty Index must surpass 16750-16795 to continue the up move till 16895-17095 levels. On the other hand, if the Index unable to move and closes above 16750-16795 then, it may try to re-visit 16610-16435-16275 levels in the near term. Let see, how the Index opens today at 16710-16750-16795 levels, the intra volatility may be in a high note due to today's F&0 expiry and tomorrow's week-end factor, trade with due caution, avoid aggressive long and short positions.

Nifty Bank Index: Nifty Bank Index yesterday, opened at 36370.55, on the opening move, it made a day low 36248.60 thereafter, it moved up, made a day high 36808.30 and closed on a positive note at 36783.75 with an intra gain 375.25 points, i.e., 1.03%, today the Nifty Bank Index must move above 36960-37011-37125 levels; if to do so, then it may try to re-test 37220-37380-37520-37700 levels. On the other hand, any weakness near 36960-37011-37125; further, it moves below 36800-36645 then, the Index may re-visit 36520-36380-36250 levels.

Trading Strategy: The members/followers/readers, those who re-invested near 15350-15200 try to book full profit near 16750-16795-16900 or the stocks given profit 15-18%.

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.