14.07.21 Wednesday, 8.36 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as written and expected, opened on a positive note with gap up at 15794, our expected opening band i.e.,15780-15800, on opening move, it made a day low 15744.60 thereafter, the Index moved up throughout the day and made a day high at 15820.80 and closed the day at 15812.35 on a positive bias with an intra gain 119.75 points i.e., 0.76%.

What will happen today? Nifty Index may open on a flat note at 15820-15780 if open, trade and sustain above 15820 then, the Index may try to re-test 15840-15855-15880-15900-15915-15935-15970 levels. On the other hand, the immediate support lies at 15760-15745, if the Index moves below 15745 then, it may re-visit 15725-15705-15675-15655-15632-15605-15560-15535-15505 levels. 

Special Mention: Yesterday, the Nifty index broken our threshold resistance levels i.e., 15780, made a day high 15820.80 and closed very well above 15780, today the Index must sustain above 15780-15745 then, it may try to re-test 15835-15880-15915, any further move above 15915 then, the Index may test 15970-16024-16070 levels in the near term. On the other hand, if the Index fails to take support at 15780-15745, 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 15820-15780 levels, the intra volatility may rise due to tomorrow's weekly option expiry, 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