23.06.21 Wednesday, 8.33 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as written and expected, opened on a positive note at 15840.50, our expected opening band i.e.,15780-15835, on opening move, it moved up and made a day high at 15895.75, thereafter, the last  hour intra  sell-off dragged tiil 15752.10 and closed at 15772.75  on a positive note with an intra gain 26.25 points i.e., 0.17%.

What will happen today? Nifty Index may open on a positive note near 15845-15875 if open, trade and sustain above 15875 then, the Index may try to test 15900-15920-15935-15970-15995-16024 levels. On the other hand, the immediate support lies at 15805-15780, if the Index moves below 15780 then, the Index may re-visit 15750-15730-15715-15675-15650-15623-15590-15560 levels.

Special Mention: Yesterday, the Nifty Index continued the pull back rally till 15895, the intra sell-off dragged till 15752 and closed below the threshold level i.e., 15780. Today if, the Index moves and closes above 15900-15920, for three consecutive trading sessions then the Index may test 16020-16070-16120 levels in the near term. On the other hand, if the Index not able to move above 15850-15900-15920 then, the weakness may drag the Index once again till 15800-15780-15750, further sell-off below 15750, may drag the Index to re-visit  till 15650-15500-15450 levels, let see. how the Index opens today at 15845-15875 levels, trade with due caution, the intra volatility may rule the Index till this week, avoid aggressive long position or short position till it gives a clear breakout above 15900-15920 with good volume.

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