10.06.21 Thursday, 8.33 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as written and expected, opened on positive note at 15766.30, our expected opening band i.e.,15740-15760-15780, on opening move, it made a day high 15800.45 thereafter, the Index moved down throughout the day, made a day low at 15566.90 and closed at 15635.35 on a negative note with an intra loss -105.75 points i.e., -0.67%.

What will happen today? Nifty Index may open on a flat to positive note at 15660-15680-15715 if open, trade and sustain above 15715 then, the Index may try to test 15733-15755-15780-15800-15850-15885-15920 levels. On the other hand, the immediate support lies at 15620-15595, if the Index moves below 15620 then, the Index may re-visit 15565-15540-15505-15480-15460-15431-15375 levels. 

Special Mention: Yesterday, though the Index continued the northward journey beyond our threshold level i.e., 15780, made a fresh all time high at 15800.45, but the sell-off dragged till 15566.90 and unable to close above 15780, today the Nifty Index must move and sustain above 15680-15733, if the Index close above 15780 for three consecutive trading sessions, then only 15920-16000-16070 levels are possible this month. On the other hand, if the Index not able to trade and sustain above 15680-15733 then, the weakness may drag the Index till 15560-15431-15375 levels in the near term, let see. how the Index opens today at 15650-15680-15715 levels. As written on 08th Jun'21, the Index unable to sustain above 15780, the profit booking cum sell-off dragged till 15566, let see how the Index opens today and hold above 15680, the intra volatility may rise today and tomorrow, due to weekly option expiry and tomorrow's week-end factor, trade with due caution is my advise at this juncture.

Trading Strategy: The followers/readers, those who booked profit near 15780-15800, try to re-invest partially at 15600-15400 in the Nifty50 stocks, for a short term perspective with a profit 5-10%.

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