01.06.21 Tuesday, 8.33 am

Good Morning followers & readers 

What has happened Monday? Nifty Index, as written and expected, opened on positive note at 15437.75, our expected opening band i.e.,15431-15455-15470, on opening move, it made low 15374 thereafter, the Index moved up throughout the day, made day high 15606.35 and closed at 15582.80 on positive note with intra gain 147.15 points i.e., 0.95%.

What will happen today? Nifty Index may open on flat to positive note at 15600-15635 if open, trade and sustain above 15635 then, the Index may try to test 15670-15710-15745-15780 levels. On the other hand, the immediate support lies at 15580-15550, if the Index moves below 15550 then, the Index may re-visit 15520-15470-15432-15400-15375-15340-15310 levels. 

Special Mention: Yesterday, the Nifty Index continued its upward move for continuous seven trading sessions, made high 15606 and closed well above 15470, today the Index must surpass and sustain above 15600-15670, if moves above 15670 then the Index may test 15780-15850-15920 levels in the near term. On the other hand, if the Index not able to trade and sustain above 15670-15780 then, the weakness may drag the Index till 15432-15375 levels in the near term, let see. how the Index opens today at 15600-15630 levels. Nifty Index may see some technical sell-off cum profit booking this week till 15470-15432-15375 trade with due caution, the intra volatility may rule the Index this week, follow the buy on dips strategy. The Q4 GDP as written in our weekly outlook, moved up to 1.60% from the last Quarter number 0.40%, the 2020-2021 annual GDP contracts to 7.30%.

Trading Strategy: The followers/readers, those who invested in Nifty50 stocks near 14650 try to book profit near 15600-15780 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