30.06.21 Wednesday, 8.36 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as written and expected, opened on a flat to negative note at 15807.50, our expected opening band i.e.,15810-15792-15780, on opening move, it made a day high at 15835.90, thereafter, the Index moved down throughout the day and made a day low at 15724.05, closed the day at 15748.45 on a negative note with an intra loss -66.25 points i.e., -0.42%.

What will happen today? Nifty Index may open on a flat to positive note at 15765-15780-15805 if open, trade and sustain above 15805 then, the Index may try to re-test 15835-15846-15865-15900-15920-15950-15970-15985-16000-16024 levels.  On the other hand, the immediate support lies at 15740-15724, if the Index moves below 15724 then, the Index may try to re-visit 15705-15675-15650-15610-15590-15560 levels. 

Special Mention: Yesterday, the Nifty Index unable to move above 15835, once again the mild intra weakness dragged the index till 15724 and closed well below 15780 levels. Today, the Index must move and close above 15780-15845 levels to test 15920-15970-16024 levels. On the other hand, if the Index not moves above 15780-15845 then, it may try to re-visit, 15740-15705, further down move below 15705, the weakness may drag the Index till 15675-15620-15565-15505-15450 levels in the near term. Let see. how the Index opens today at 15765-15780-15805 levels, trade with due caution, the intra volatility may be high this week, due to F&O Expiry and today's 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