06.07.21 Tuesday, 8.36 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as written and expected, opened on a positive note at 15793.40, our expected opening band i.e.,15765-15780-15805, on opening move, it made a day low near 15762.05 thereafter, the Index was trading in a narrow range throughout the day and made a day high 15845.95, closed the day at 15835.35 on a positive bias with an intra gain 112.15 points i.e., 0.71%.

What will happen today? Nifty Index may open on a flat note at 15830-15810 if open, trade and sustain below 15810 then, the Index may try to re-visit 15780-15760-15740-15715-15685-15660-15635-15610-15560-15535-15505 levels. On the other hand, the immediate resistance seen at 15840-15885, if the Index moves above 15885, then it may test 15900-15915-15935-15970-15995-16024 levels. 

Special Mention: Yesterday, the pull back rally continued in the Nifty Index till our resistance level i.e., 15839, made a high 15845.95 and closed well above 15780-15810, today the Index must trade and sustain above 15845-15885 then, it may test 15915 levels, further move above 15915, may pave the way to test 15970-16024-16070 in the near term. On the other hand, if the Index fails to move above 15845-15885 then, the weakness may drag the index 15810-15780, further down move below 15780 then, the Index may re-visit 15760-15635-15580-15450 levels in the near term. Let see, how the Index opens today at 15830-15810 levels.  

Trading Strategy: The followers/readers, follow and adopt  the Buy on dips strategy to re-invest near 15600-15450 levels in the Nifty50 stocks with 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