02.06.21 Wedensday, 8.36 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as written and expected, opened on negative note at 15520.35, our expected opening band i.e.,15575-15616, on opening move, made high 15663.60 thereafter, the Index moved down, made a day low till 15459.85, further the last hour pull back took the Index up, made a day high 15597.45 and closed at 15576.20 on positive note with marginal intra gain 7.95 points i.e., 1.35%.

What will happen today? Nifty Index may open on flat note at 15575-15616 if open, trade and sustain above 15616 then, the Index may try to test 15640-15660-15695-15725-15745-15780-15800-15835 levels. On the other hand, the immediate support lies at 15575-15540, if the Index moves below 15540 then, the Index may re-visit 15516-15490-15460-15432-15400-15365-15340-15320 levels. 

Special Mention: Yesterday, as written the technical sell-off near to our threshold support level i.e, 15432, made low 15459 and closed well above 15575, today the Nifty Index must move and sustain  above 15660-15695 to reach 15780-15850-15920 levels in the near term. On the other hand, if the Index not able to trade and sustain above 15620-15660 then, the weakness may drag the Index till 15432-15375 levels in the near term, let see. how the Index opens today at 15575-15616 levels. As written yesterday, the Nifty Index seen some weakness cum profit booking dragged till 15528, let see whether the weakness continues today or not,  trade with due caution, the intra volatility may rule the Index this week, follow the buy on dips strategy. 

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