23.07.21 Friday, 8.33 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as expected and written, opened on a positive note with gap up at 15736.60, our expected opening band i.e.,15730-15755, on opening move, it made a day low at 15726.40 thereafter, the Index moved up throughout the day and made a day high at 15834.80 and closed the day at 15824.05 on a positive with an intra gain 191.95 points i.e., 1.23%.

What will happen today? Nifty Index may open on a flat to positive note at 15825-15835-15860 if open, trade and sustain above 15860 then, the Index may try to re-test 15880-15900-15915-15935-15965-15995-16024 levels. On the other hand, the immediate support lies at 15805-15780 if the Index moves below 15780 then, it may re-visit 15765-15740-15725-15700-15675-15640-15610-15578 levels.

Special Mention: Yesterday, the Nifty index started the pull back rally and moved till 15834.80 and closed well above our threshold support level i.e., 15780, today the Nifty index must continue to trade above 15835-15860 levels then, it may try to re-bound till 15880-15915-15962 levels in the near term. On the other hand, if the Index unable to trade and sustain above 15835-15880 then, the weakness once again may drag the Index till 15730-15635-15580-15432 levels very soon. Let see, how the Index opens today at 15825-15835-15860 levels, the intra volatility may be in a high note today, due to the 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

Further details please do call us on 98410 48022 or contact thro' whatsapp: 99624 70636. Please read carefully, the Disclaimer published in the Disclaimer page.

Wishing you for a safe, secured and profitable trading