19.07.21 Monday, 8.39 am

Good Morning followers & readers 

What has happened on Friday? Nifty Index, as written and expected, opened on a flat note at 15958.35, our expected opening band i.e.,15920.-15950, on opening move, it made a day high 15962.25 thereafter, the Index moved down throughout the day and made a day low at 15882.60 and closed the day at 15924.20 on a flat to negative note with an intra loss -0.80 points i.e., -0.01%.

What will happen today? Nifty Index may open on a negative note with gap down at 15760-15730-15710 if open, trade and sustain below 15710 then, the Index may try to re-visit 15670-15645-15610-15570-15540-15510-15480-15450-15432 levels. On the other hand, the immediate resistance seen at 15780-15820, if the Index moves above 15820 then, it may re-test 15855-15880-15915-15935-15962 levels. 

Special Mention: On Friday, the Nifty index continued the northward rally and made a new all time high 15962.25 but unable to surpass our threshold resistance levels ie., 15970, the intra sell-off dragged till 15882 and closed above 15920 levels, it seems the global weakness may drag the Nifty Index today, till 15760-15700, any further weakness below 15700 then, the Index may re-visit 15635-15432 very soon. On the other hand, if the Index takes support 15760-15700 then, the pull back rally once again may lift the Index till 15880-15960 levels, further up move is possible only above 15970 , if the Nifty index moves and closes above 15970 then, it may continue the rally till 16070-16150-16220 in the near term. Let see, how the Index opens today at 15760-15730-15710 levels, the intra volatility may be in a high note this week since, we have a trading holiday on 21st Jul-Wednesday, trade with due caution and avoid aggressive short position, unless the Index breaks and closes below 15650-15632 levels.  

Trading Strategy: The followers/readers, try to invest partially near 15700-15450 in Nifty50 stocks for the short term perspective to gain 5-10% return.

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