25.06.21 Friday, 8.39 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as written and expected, opened on a positive note at 15737.30, our expected opening band i.e.,15740-15760, on opening move, it made a day low at 15702.70, thereafter, the Index moved up throughout the day, made a day high at 15821.40 and closed at 15790.45 on a positive note with an intra gain 103.505 points i.e., 0.66%.

What will happen today? Nifty Index may open on a flat to positive note near 15805-15821 if open, trade and sustain above 15821 then, the Index may try to test 15860-15900-15920-15935-15970-16000 levels. On the other hand, the immediate support lies at 15780-15760, if the Index moves below 15760 then, the Index may re-visit 15746-15725-15702-15675-15650-15620-15590-15560-15520-15495 levels.

Special Mention: Yesterday, the Nifty Index able to take support near 15700 and continued the pull back rally once again till 15821 and closed above our thereshold level i.e., 15780. Today if, the Index must move above 15840-15860 then, the further move above  15895-15900, may take the Index till 15920-15970-15995-16020-16070 levels in the near term. On the other hand, if the Index not moves above 15865-15900 then, it may try to re-visit, 15760-15730-15700, further down move below 15700, then, further weakness may drag the Index till 15675-15620-15565-15505-15450 levels in the near term. Let see. how the Index opens today at 15805-15821 levels, trade with due caution, the intra volatility may be high today, due to 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