31.05.21 Monday, 8.39 am

Good Morning followers & readers 

What has happened on Friday? Nifty Index, as written and expected, opened on positive note at 15421.20, our expected opening band i.e.,15355-15385-15415, on opening move, it made low 15394.75 thereafter, the Index moved up till 15469.65  and closed at 15435.65 on positive note with intra gain 97.80 points i.e., 0.64%.

What will happen today? Nifty Index may open on flat to positive note at 15431-15455-15470 if open, trade and sustain above 15470 then, the Index may try to test 15490-15520-15550-15574-15600 levels. On the other hand, the immediate support lies at 15410-15395, if the Index moves below 15395 then, the Index may re-visit 15375-15336-15320-15295-15275-15245-15195 levels. 

Special Mention: On Friday, the Nifty Index continued its upward move for continuous six trading sessions, made high 15469.65 and closed well above the recent all time high point i.e., 15431.75, today the Index must surpass and sustain above 15469-15490, if moves above 15490 then the Index may test 15600-15780 levels in the near term. On the other hand, if the Index not able to trade and sustain above 15470-15490, then, the weakness may drag the Index till 15336-15275-15165-15045 levels in the near term, let see. how the Index opens today at 15431-15455-15470 levels. Nifty Index may see some technical sell-off cum profit booking this week till 15275-15050, trade with due caution, the intra volatility may rule the Index this week due to today's month-end factor, Q4 GDP data and RBI MPC meet are expected this week, follow the buy on dips strategy and start book profit partially.  

Trading Strategy: The followers/readers, those who invested in Nifty50 stocks near 14650 try to book profit near 15450-15600 levels or with the return of 15-20%. 

Also, 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, visiit by using the following link: https://www.niftytech.in/marketupdate/62

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Wishing you for a safe, secured and profitable trading