07.07.21 Wednesday, 8.36 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as written and expected, opened on a flat note at 15813.75, our expected opening band i.e.,15830-15810, on opening move, it made a day low near 15801 thereafter, the Index moved up and made a day high at 15914.20, further the last hour sell-off dragged the Index near to the day low and closed the day at 15818.25 on a negative bias with an intra loss -16.10 points i.e., -0.10%.

What will happen today? Nifty Index may open on a negative note by tracking the Asian indices at 15800-15780-15760 if open, trade and sustain below 15760 then, the Index may try to re-visit 15740-15705-15685-15668-15635-15610-15560-15535-15505 levels. On the other hand, the immediate resistance seen at 15825-15845, if the Index moves above 15845, then it may test 15865-15890-15915-15935-15970-15995-16024 levels. 

Special Mention: Yesterday also the pull back rally continued in the Nifty Index till our threshold resistance level i.e., 15915, made a high 15914.20  but unable to surpass and sustain above 15915 levels, the sell-off once again dragged down the Index and closed well above 15780-15810. Today the Index must trade and sustain above 15780-15760 then, it may try to 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 sustain and hold at 15780-15760 then, the weakness may drag the index till 15700-15635 levels, further down move below 15635 then, the Index may re-visit 15580-15450-15432 levels in the near term. Let see, how the Index opens today at 15800-15780-15760 levels, the Intraday volatility may rise till Friday, due to tomorrow's weekly option expiry and Friday's week-end factor, trade with due caution and avoid aggressive long position, unless the Index surpass and closes above 15915-15920 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