07.06.21 Monday, 8.33 am

Good Morning followers & readers 

What has happened on Friday? Nifty Index, contrary to our expectation, opened on positive note at 15712.50, our expected opening band i.e.,15690-15660, on opening move, made a day high 15733.60 thereafter, the Index moved down throughout the day, made a day low at 15622.35 and closed at 15670.25 on negative note with  intra loss -20.10 points i.e., -0.13%.

What will happen today? Nifty Index may open on flat to positive note at 15670-15700 if open, trade and sustain above 15700 then, the Index may try to re-test 15733, further move above 15733, the Index may test 15755-15780-15820-15850-15885-15920 levels. On the other hand, the immediate suppoart lies at 15645-15622, if the Index moves below 15622 then, the Index may re-visit 15595-15570-15550-15500-15475-15432-15395 levels. 

Special Mention: On Friday, the Index continued the northward journey and made a fresh all time high at 15733.60 and closed well above 15660, today the Nifty Index must move and sustain above 15730-15755-15780 to test 15850-15920-16000 levels in the near term. On the other hand, if the Index not able to trade and sustain above 15700-15730-15780 then, the weakness may drag the Index till 15660-15550-15432-15270 levels in the near term, let see. how the Index opens today at 15670-15700 levels. Trade with due caution at higher levels, aviod aggressive long position. 

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