15.06.21 Tuesday, 8.33 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as written and expected, opened on a flat to negative note at 15791.40, our expected opening band i.e.,15780-15755, on opening move, it made a day low 15606.50 thereafter, the Index consolidated near 15750 and moved up, made a day high at 15823.0 and closed at 15811.85 on a positive note with a intra gain 12.50 points i.e., 0.08%.

What will happen today? Nifty Index may open on a flat note at 15800-15820 if open, trade and sustain above 15820 then, the Index may try to test 15835-15860-15890-15920-15940-16000 levels. On the other hand, the immediate support lies at 15780-15760, if the Index moves below 15760 then, the Index may re-visit 15740-15720-15685-15655-15610-15585-15566-15528-15475-15432 levels

Special Mention: Yesterday, the Index witnessed a sharp panic sell-off around 200 points and tested a low point 15606, this sudden sell-off due to the Adani Group of stocks got sold-off based on the news that, the Maurtius based 3 FPI trading account were freezed by NSDL, they invested in Adani group more than Rs.43,500 crore, later on, the Adani Group given a statement that no account freezed,  but the fact is still not known, the Nifty Index by the mid session, once again moved above 15800 and closed well above our threshold level i.e., 15780-15800, today the Index must move above 15835-15850, if the Index able to move above, then 15920-16000-16070 levels are possible this month. On the other hand, if the Index not able to trade and sustain above 15800-15850 then, the weakness below 15780, the Index once again may be dragged till 15565-15431-15375 levels in the near term, let see. how the Index opens today at 15800-15820 levels, trade with due caution at the higher levels, avoid aggressive long position is my advise at this juncture.

Trading Strategy: The followers/readers, those who invested near 15600 or those who holding positions, watch 15800-15900 to move above, else  try to book profit and wait for further correction to re-invest when the Nifty comes down 15450-15200 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