03.06.21 Thursday, 8.33 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, contrary to our expectation, opened on negative note at 15520.35, our expected opening band i.e.,15575-15616, on opening move, made high 15563.60 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 1.35 points i.e., 0.01%.

What will happen today? Nifty Index may open on positive note at 15635-15660 if open, trade and sustain above 15660 then, the Index may try to test 15695-15725-15745-15780-15800-15835 levels. On the other hand, the immediate support lies at 15595-15550, if the Index moves below 15550 then, the Index may re-visit 15512-15475-15460-15432-15400-15365-15340-15320 levels. 

Special Mention: Yesterday, as written day before yesterday, the technical sell-off dragged the Index 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 15635-15660 then, the weakness may drag the Index till 15550-15432-15375 levels in the near term, let see. how the Index opens today at 15635-15660 levels. the intra volatility may rise today and tomorrow due to weekly option expiry and tomorrow RBI MPC meet, trade with due caution. 

Trading Strategy: The followers/readers, those who invested in Nifty50 stocks near 14650 try to book profit near 15660-15780 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