01.07.21 Thursday, 8.36 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as written and expected, opened on a positive note at 15776.90, our expected opening band i.e.,15765-15780-15805, thereafter, it moved up and made a day high at 15839.10, further, the Index moved down by noon session, made a day low at 15708.75 and closed the day at 15721.50 on a negative note with an intra loss -26.95 points i.e., -0.17%.

What will happen today? Nifty Index may open on a flat to positive note at 15740-15755-15780 if open, trade and sustain above 15780 then, the Index may try to re-test 15800-15825-15840-15855-15870-15900-15920-15970-15985-16000 levels.  On the other hand, the immediate support lies at 15725-15705, if the Index moves below 15705 then, the Index may try to re-visit 15675-15655-15630-15600-15560-15535-15505 levels. 

Special Mention: Yesterday, the Nifty Index unable to move above 15845, once again the intra weakness dragged the index till 15708.75 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 moves below 15740-15708 then, 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 15740-15755-15780 levels, trade with due caution, the intra volatility may be high, due to today's F&O Expiry and tomorrow's week-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