22.06.21 Tuesday, 8.33 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as written and expected, opened on a negative note at 15525.85, our expected opening band i.e.,15600-15560-15525, on opening move, it moved down and made a day low at 15505.65, thereafter, the Index moved up throughout the day, made a day high at 15765.15 and closed at 15746.50 on a positive note with an intra gain 63.15 points i.e., 0.40%.

What will happen today? Nifty Index may open on a positive note near 15780-15805-15835 if open, trade and sustain above 15835 then, the Index may try to test 15860-15900-15925-15960-15995-16020 levels. On the other hand, the immediate support lies at 15765-15715, if the Index moves below 15715 then, the Index may re-visit 15685-15650-15605-15560-15505-15450-15432 levels.

Special Mention: Yesterday, the Nifty Index took support near 15500, the pull back rally lifted the Index till 15765. Today if, the Index moves above 15780-15850 then, the it may test 15900-16020-16070 levels very soon. On the other hand, if the Index not able to move above 15800-15850 then, the weakness below 15780-15765 may drag the Index once again till 15650-15500-15450 levels, let see. how the Index opens today at 15780-15820-15835 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, those who invested near 15450-15500 levels in the Nifty50 stocks, may book partial profit at 15800-15900 levels in Nifty Index or for the profit around 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