09.06.21 Wednesday, 8.36 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as written and expected, opened on flat to positive note at 15773.90, our expected opening band i.e.,15730-15750, on opening move, it made a day high 15778.90 thereafter, the Index moved down, made a day low at 15680 and closed at 15740.10 on a negative note with an intra loss -11.55 points i.e., -0.07%.

What will happen today? Nifty Index may open on flat to positive note at 15740-15760-15780 if open, trade and sustain  above 15780 then, the Index may try to test 15805-15820-15850-15885-15920 levels. On the other hand, the immediate support lies at 15715-15680, if the Index moves below 15680 then, the Index may re-visit 15650-15611-15580-15535-15495-15465-15432-15395 levels. 

Special Mention: Yesterday, the Index continued the northward journey and moved near our threshold level i.e., 15780, made a fresh all time high at 15778.80, closed well above 15733, today the Nifty Index must move and sustain above 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 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 15740-14760-15780 levels. As written and expected yesterday, the Index unable to move above 15780, the weakness dragged till 15680, it looks the low volume and not much of wider participation at the higher levels, due to lack of confidence, the Index is struggling to surpass our threshold resistance level i.e., 15780, last three trading sessions, it was trying to move above that level, but unable to do so, closed near to that levels, let see today how it trades, the intra volatility may rise due to tomorrow's weekly option expiry, trade with due caution is my advise at this juncture.

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