02.07.21 Friday, 8.36 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as written and expected, opened on a flat to positive note at 15755.05, our expected opening band i.e.,15740-15755-15780, on opening move made open and high near 15755 thereafter, it moved down throughout the day, made a day low at 15667.05 and closed the day at 15680 on a negative note with an intra loss -41.50 points i.e., -0.26%.

What will happen today? Nifty Index may open on a flat note at 15680-15710 if open, trade and sustain above 15710 then, the Index may try to re-test 15735-15755-15780-15825-15842-15855-15870-15900-15915 levels. On the other hand, the immediate support lies at 15665-15645-15620, if the Index moves below 15620 then, the Index may try to re-visit 15595-15560-15535-15505-15475-15450-15432 levels. 

Special Mention: Yesterday, the Nifty Index unable to move above 15780, once again the intra weakness dragged the index till 15667 and closed well below 15700 levels. Today, the Index must take support at 15665-15645-15620 levels, else the weakness cum sell-off may drag the Index till 15565-15505-15450-15432 levels ver soon. On the other hand, if the Index takes support at 15660-15620, then it may try to re-test 15710-15735, further up move above 15735, may take the Nifty index to 15780-15840-15915 levels in the near term. Let see, how the Index opens today at 15680-15710 levels. The Nifty Index closed with a negative note for the straight four consecutive trading sessions, today a minor pull back may be possible till 15780-15840 levels, the Index may try to close with a positive note above 15780-15800 levels, trade with due caution, the intra volatility may be high, due to week-end factor.

Trading Strategy: The followers/readers, try to re-invest partially near 15600-15450 levels in the Nifty50 stocks for a short term perspective, to gain 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