08.06.21 Tuesday, 8.36 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as written and expected, opened on positive note at 15725.10, our expected opening band i.e.,15670-15700, on opening move, it made a day low 15678.10 thereafter, the Index moved up throughout the day, made a day high at 15773.45 and closed at 15751.65 on a positive note with an intra gain 81.40 points i.e., 0.52%.

What will happen today? Nifty Index may open on flat note at 15730-15750 if open, trade and sustain  above 15750 then, the Index may try to re-test 15775 further move above 15775, the Index may test 15800-15820-15850-15885-15920 levels. On the other hand, the immediate support lies at 15715-15680, if the Index moves below 15680 then, the Index may re-visit 15650-15615-15580-15535-15495-15465-15432-15395 levels. 

Special Mention: Yesterday, the Index continued the northward journey and moved to our threshold level i.e., 15780 and  made a fresh all time high at 15773.45, closed well above 15733, today the Nifty Index must move and sustain above 15733-15780, if the Index close above 15780 for three consecutive trading sessions, then 15920-16000-16070 levels are possible this month. On the other hand, if the Index not able to trade and sustain above 15733-15780 then, the weakness may drag the Index till 15650-15550-15432-15270 levels in the near term, let see. how the Index opens today at 15730-15750 levels. Trade with due caution at higher levels, the Index may see some minor sell-off till 15650-15600 today or tomorrow hence, aviod aggressive long position. 

Trading Strategy: The followers/readers, those who invested in Nifty50 stocks near 14650 try to book profit near 15730-15780-15820 levels or with the return of 15-20% and wait for further correction to re-invest again, when the Nifty Index moves to 15400-15200 levels.

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