26.07.21 Monday, 8.33 am

Good Morning followers & readers 

What has happened on Friday? Nifty Index, as expected and written, opened on a positive note at 15856.80, our expected opening band i.e.,15835-15860, on opening move, it made a day low at 15768.40 thereafter, the Index moved up throughout the day and made a day high at 15899.80 and closed the day at 15856.05 on a positive with an intra gain 32 points i.e., 0.20%.

What will happen today? Nifty Index may open on a negative note with gap down at 15780-15740 if open, trade and sustain below 15740 then, the Index may try to re-visit 15700-15655-15615-15580-15555-15505-15480-15450-15432 levels. On the other hand, the immediate resistance seen at 15805-15835, if the Index moves above 15835 then, it may re-rest 15860-15900-15915-15935-15962 levels.

Special Mention: On Friday, the Nifty index continued the pull back rally and moved till 15899.80 and closed well above our threshold support level i.e., 15780, today the Nifty index must take support 15740-15700 levels then, it may try to re-bound till 15900-15962 levels, further move above 15962 levels, may take the Index to test 16025-16070-16145-16220 levels in the near term. On the other hand, if the Index unable to trade and sustain above 15700-15780 then, the weakness once again may drag the Index till 15635-15580-15432 levels very soon. Let see, how the Index opens today at 15780-15740 levels, the intra volatility may be in a high note this week, due to the US FED meet and F&O Expiry, 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 further dip till 15600-15400 levels to invest further.

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