16.06.21 Wednesday, 8.36 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as written and expected, opened on a flat to positive note at 15866.95, our expected opening band i.e.,15800-15820, on opening move, it made a day low 15842.40 thereafter, the Index moved up and  made a day high at 15901.60, further it closed at 15869.25 on a positive note with a intra gain 57.40 points i.e., 0.36%.

What will happen today? Nifty Index may open on a flat to negative note at 15850-15825-15800 if open, trade and sustain below 15800 then, the Index may try to re-visit 15780-15740-15715-15695-15645-15607-15595-15565-15540-15515 levels. On the other hand, the immediate resistance seen at 15875-15900, if the Index moves above 15900 then, the Index may test 15920-15955-15995-16030-16070 levels.

Special Mention: Yesterday, the Index once again on track towards the northwards, moved up and made an another all time high point 15901.60 and closed well above 15850, as I had written that, the Nifty index if close above 15780, then 15920-16000-16070 levels are possible, almost it moved near 15920, yesterday the Nifty Index made an Island formation on the daily chart, today if, the Index open below 15850 and moves below 15825-15800 then, the Island reversal possible with a weakness, which will drag the Nifty to re-visit 15606-15566 levels very soon. On the other hand, if the Index take support at 15850-15800 and moves above 15875-15900 then 15920-16000-16070 levels are possible this week or by next week, let see. how the Index opens today at 15850-15800 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 15800-15920 to move above, else  try to book profit and wait for further correction to re-invest when the Nifty comes down 15560-15450-15200 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