24.06.21 Thurssday, 8.36 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as written and expected, opened on a positive note at 15862.80, our expected opening band i.e.,15845-15875, on opening move, it made a day high near open at 15862.95, thereafter, the Index moved down throughout the day, made a day low at 15673.95 and closed at 15686.95 on a negative note with an intra loss -85.80 points i.e., -0.54%.

What will happen today? Nifty Index may open on a positive note near 15740-15760 if open, trade and sustain above 15760 then, the Index may try to test 15795-15820-15860-15900-15920-15935-15970 levels. On the other hand, the immediate support lies at 15685-15660, if the Index moves below 15660 then, the Index may re-visit 15620-15590-15560-15520-15495-15460-15432 levels.

Special Mention: Yesterday, the Nifty Index unable to continue the pull back rally beyond 15850-15900, the intra sell-off dragged till 15673.95 and closed well below the threshold level i.e., 15780 for the second consecutive trading session. Today if, the Index moves below 15677-15630 then, the further weakness may drag the Index till 15565-15450-15432 levels in the near term. On the other hand, if the Index takes support 15670-15620 then, it may try to re-test 15780-15835-15875-15900, further upmove above 15900 then, 15970-16025 possible levels in the near term. Let see. how the Index opens today at 15845-15875 levels, trade with due caution, the intra volatility as written and expected yesterday ruled the Index, it may rise today, due to F&O Expiry and tomorrow's week-end factor, avoid aggressive long position or short position.

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