13.07.21 Tuesday, 8.33 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as written and expected, opened on a positive note at 15766.80, our expected opening band i.e.,15730-15755, on opening move, it made a day high 15789.20 thereafter, the Index moved down and made a day low till 15644.75 and closed the day at 15692.60 on a positive bias with an intra gain 2.80 points i.e., 0.02%.

What will happen today? Nifty Index may open on a positive note with gap up by tracking the Asian indices at 15750-15780-15800 if open, trade and sustain above 15800 then, the Index may try to re-test 15835-15855-15880-15900-15915-15935-15970 levels. On the other hand, the immediate support lies at 15740-15700, if the Index moves below 15700 then, it may re-visit 15650-15632-15605-15560-15535-15505-15450-15432 levels. 

Special Mention: Yesterday, the Nifty index tried to surpass our threshold resistance levels i.e., 15780, made an attempt and traded with a high point at 15789.20 but, unable to sustain at this levels, the Intra sell-off dragged the index once again near our threshold support levels i.e., 15632, made a low 15644.75 and closed well above 15685, today the Index must move above 15780-15835 then, it may try to re-test 15880-15915, any further move above 15915 then, the Index may test 15970-16024-16070 levels in the near term. On the other hand, the immediate support lies at 15635-15605, any close below these levels then, the weakness may drag the Index till 15560-15450-15435-15375 levels very soon. Let see, how the Index opens today at 15750-15780-15800  levels, trade with due caution and avoid aggressive short position, unless the Index breaks and closes below 15635-15600 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