21.06.21 Monday, 8.36 am

Good Morning followers & readers 

What has happened on Friday? Nifty Index, as written and expected, opened on a positive note at 15756.50, our expected opening band i.e.,15710-15740, on opening move, it moved down and made a day low at 15450.90, thereafter, the Index moved up and made a day high at 15761.50, closed at 15683.35 on a negative note with a marginal intra loss -8.05 points i.e., -0.05.

What will happen today? Nifty Index may open on a negative note near 15600-15560-15525 if open, trade and sustain below 15525 then, the Index may try to re-visit 15485-15450-15432-15395-15375-15340-15310-15275 levels. On the other hand, the immediate resistance seen at 15640-15670, if the Index moves above 15670 then, the Index may re-visit 15700-15732-15765-15780-15805-15845-15870-15900 levels.

Special Mention: On Friday, the Nifty Index as written and expected, unable to move above 15780, the sell-off dragged tthe Index till our threshold support level i.e., 15432, though it moved to 15450, but it bounced above 15700 and closed near 15700.  Today the Index must take support 15570-15525 if, the Index moves below 15525 then it may re-visit the panic bottom made on Friday i.e., 15450, below 15450-15430 if the Index moves and closes below 15450-15432 for three consecutive trading sesssions then, the Index may re-visit 15200-15050 levels very soon. On the other hand, if the Index able to take support 15432-15375, then it may try to re-test once again 15670-15780 levels, further upmove above 15780 then, it may continue the upward rally till 15900 in the nearm term, let see. how the Index opens today at 15600-15560-15525 levels, trade with due caution, the intra volatility may be rised this week, avoid aggressive long position or short position, is my advise at this juncture.

Trading Strategy: The followers/readers, may re-invest near 15450-15200-15000 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