11.06.21 Friday, 8.36 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as written and expected, opened on positive note at 15692.10, our expected opening band i.e.,15660-15680-15715, on opening move, it made a day low 15648.50 thereafter, the Index moved up throughout the day, made a day high at 15751.25 and closed at 15737.75 on a positive note with an intra gain 103.40 points i.e., 0.66%.

What will happen today? Nifty Index may open on a positive note at 15750-15780 if open, trade and sustain above 15780 then, the Index may try to test 15800-15830-15865-15885-15920-15940-16000 levels. On the other hand, the immediate support lies at 15733-15705, if the Index moves below 15705 then, the Index may re-visit 15680-15655-15625-15595-15566-15535-15505-15465-15432 levels. 

Special Mention: Yesterday, the Index made an inside day pattern, it means the Index not broken the previous day high point i.e.,15800.45, also not broken the low point i.e., 15566.90, it infers the indeceiveness, today the Index must break 15755-15800 to continue the northward journey and it must 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 15780-15800 then, the weakness once again may drag the Index till 15565-15431-15375 levels in the near term, let see. how the Index opens today at 15750-15780 levels, the intra volatility may be rule the Index today due to week-end factor, trade with due caution is my advise at this juncture.

Trading Strategy: The followers/readers, those who invested near 15600 or those who holding positions, watch 15780-15850-15900 to move above, else  try to book profit and wait for further correction to re-invest when the Nifty comes down 15600-15400 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