16.07.21 Friday, 8.39 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as written and expected, opened on a flat note at 15872.15, our expected opening band i.e.,15850-15875, on opening move, it made a day low 15855 thereafter, the Index moved up throughout the day and made a day high at 15952.35 and closed the day at 15924.20 on a positive bias with an intra gain 70.25 points i.e., 0.44%.

What will happen today? Nifty Index may open on a flat to positive note at 15920-15950 if open, trade and sustain above 15950 then, the Index may try to test 15970-15995-16024-16050-16070-16095 levels. On the other hand, the immediate support lies at 15915-15875, if the Index moves below 15875 then, it may re-visit 15855-15830-15805-15780-15765-15735-15705 levels. 

Special Mention: Yesterday, the Nifty index continued the pull back rally and surpaased the hurlde level 15915 and made a new all time high at 15952 further, it was closed well above 15915 levels, today the Index must sustain above 15952-15970 and close above 15970 for three consecutive trading session then, the Index may try to test 16024-16145-16220 levels in the near term.  On the other hand, if the Index fails to move above 15952-15970 then, the weakness may drag the Index till 15860-15780-15635 levels very soon. Let see, how the Index opens today at 15920-15950 levels, the intra volatility may be in a high note, due to week-end factor, trade with due caution and avoid aggressive long position, unless the Index breaks and closes above 15970-16000 levels.  

Trading Strategy: The followers/readers, those who invested in Nifty50 stocks recently, when the Nifty Index reached near 15600, start book profit for 5-10%, since 15970-16025 looks hurdle and wait to re-invest near 15650-15450 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