22.07.21 Thursday, 8.33 am

Good Morning followers & readers 

What has happened on Tuesday? Nifty Index, contrary to our expectation, opened on a negative note at 15703.95, our expected opening band i.e.,15750-15780, on opening move, it made a day high at 15728.45 thereafter, the Index moved down throughout the day and made a day low at 15578.55 and closed the day at 15632.10 on a negative note with an intra loss -120.30 points i.e., -0.76%.

What will happen today? Nifty Index may open on a positive note with gap by tracking the Asian Indices at 15700-15730-15755 if open, trade and sustain above 15755 then, the Index may try to re-test 15780-15805-15835-15858-15880-15900-15915 levels. On the other hand, the immediate support lies at 15685-15655 if the Index moves below 15655 then, it may re-visit 15635-15610-15578-15540-15510-15480-15450-15432 levels.

Special Mention: On Tuesday, the Nifty index continued the sell-off and broken the threshold support level i.e., 15632, made a day low 15578.55 thought it violated our threshold support levels briefly but, the index closed very well at 15632 levels, today the Nifty index must re-gain above 15685-15730 levels then, it may try to re-bound till 15780-15880-15962 levels in the near term. On the other hand, if the Index unable to trade and sustain above 15685-15730 then, the weakness once again may drag the Index till 15635-15580-15432 levels very soon. Let see, how the Index opens today at 15700-15730-15755 levels, the intra volatility may be in a high note since, today's weekly option expiry and tomorrow's week-end factor, trade with due caution and avoid aggressive short position, unless the Index breaks and closes below 15632-15580 levels.  

Trading Strategy: The followers/readers, those who invested near 15700-15600 in Nifty50 stocks, may start book partial profit booking at 15800-15900 levels in Nifty Index or if, the stocks which gives 5-10% profit then, book partially and wait for couple of trading sesions.

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