18.06.21 Friday, 8.36 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as written and expected, opened on a negative note with gap down at 15648.30, our expected opening band i.e.,15700-15660, on opening move, it made a open and low at the same level, thereafter, the Index moved up and made a day high at 15769.35, further the last hour sell-off dragged the Index down and mdae a day low at 15616.75 and closed at 15691.40 on a negative note with a intra loss -76.15 points i.e., -0.48%.

What will happen today? Nifty Index may open on a positive note near 15710-15740 if open, trade and sustain above 15740 then, the Index may try to re-test 15780-15800-15820-15842-15880-15902 levels. On the other hand, the immediate support lies at 15650-15606, if the Index moves below 15606 then, the Index may re-visit 15567-15535-15510-15485-15460-15432-15395 levels.

Special Mention: Yesterday, the Nifty Index as written and expected, opened near 15660, the sharp up move lifted the Index near our threshold level i.e, 15780, made a high at 15769 but unable surapss 15780, then the weakness once again dragged the Index till our support level near 15610. Today the Index must move above 15780 if, the Index moves above 15780-15800 to re-test 15900 then, to the further levles till 15920-16000-16070 levels in the near term. On the other hand, if the Index fails to move above 15780-15800 then, the weakness may drag the Nifty index till 15600-15400 levels in the near term, let see. how the Index opens today at 15710-15740 levels, trade with due caution, the intra volatility may be high due to today's week-end factor, avoid aggressive long position or short position, is my advise at this juncture.

Trading Strategy: The followers/readers, may re-invest partially near 15600-15400 levels in the Nifty50 stocks with a short to medium term perceptive with the gain for 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