28.07.21 Wednesday, 8.33 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as expected and written, opened on a positive note at 15860.50, our expected opening band i.e.,15835-15860, on opening move, it made a day high at 15881.55 thereafter, the Index moved down throughout the day and made a day low till 15701, further it was closed the day at 15746.45 on a negative note with an intra loss -78.00 points i.e., -0.49%.

What will happen today? Nifty Index may open on a positive note 15760-15780 if open, trade and sustain above 15780 then, the Index may try to re-test 15800-15835-15860-15885-15905-15935-15962 levels. On the other hand, the immediate support lies at 15745-15700, if the Index moves below 15700 then, it may try to re-visit 15675-15655-15580-15555-15510 levels.

Special Mention: Yesterday, the Nifty index continued the sell-off till 15701 and closed well below our threshold support level i.e., 15780, today the Nifty index must break 15780-15800 levels then, it may try to re-bound till 15885-15962 levels, further move above 15962, 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 15780-15800 then, the weakness once again may drag the Index till 15635-15580-15450 levels in the near term. Let see, how the Index opens today at 15760-15780 levels, the intra volatility may be in a high note this week, due to today's US FED meet and tomorrow's 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