29.06.21 Tuesday, 8.33 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as written and expected, opened on a positive note at 15915.35, our expected opening band i.e.,15875-15900-15920, on opening move, it made a day high at 15915.65, thereafter, the Index moved down throughout the day and made a day low at 15792.15, closed the day at 15814.70 on a negative note with an intra loss -45.65 points i.e., -0.29%.

What will happen today? Nifty Index may open on a flat to negative note at 15810-15792-15780 if open, trade and sustain below 15780 then, the Index may try to re-visit 15760-15730-15700-15675-15650-15610-15590-15560 levels. On the other hand, the immediate resistance seen at 15840-15880, if the Index moves above 15880 then, the Index may try to test 15900-15920-15950-15970-15985-16000-16024-16070 levels.

Special Mention: Yesterday, the Nifty Index though it broken the 15900 levels and made a new all time high at 15915.65, but unable to sustain above our threshold levels i.e., 15900-15920, the weakness dragged the Index near to our support levels i.e., 15780 and closed well above 15780, today, the Index must move and close above  15900-15920 levels for three consecutive trading sessions to test 16020-16230 levels. On the other hand, if the Index not moves above 15900-15920 then, it may try to re-visit, 15780-15740, further down move below 15740, the weakness may drag the Index till 15700-15675-15620-15565-15505-15450 levels in the near term. Let see. how the Index opens today at 15810-15792-15780 levels, trade with due caution, the intra volatility may be high this week, due to F&O Expiry, month-end and quarter-end factor.

Trading Strategy: The followers/readers, those who invested near 15450-15500 levels in the Nifty50 stocks, may book profit at 15900-15920 levels in Nifty Index or for the profit around 5-10% and wait for further price correction and invest again at 15500-15400 levels with a short term perspective.

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