30.07.21 Friday, 8.33 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as expected and written, opened on a positive note at 15762.70, our expected opening band i.e.,15710-15740, on opening move, it made a day low at 15737.80 thereafter, the Index moved up and made a  day high till 15817.35, further the Index closed the day at 15778.45 on a positive note with an intra gain 69.05 points i.e., 0.44%.

What will happen today? Nifty Index may open on a flat note 15750-15780 if open, trade and sustain above 15780 then, the Index may try to re-test 15800-15815-15840-15855-15885-15900-15935-15962 levels. On the other hand, the immediate support lies at 15735-15715, if the Index moves below 15715  then, it may try to re-visit 15685-15660-15630-15605-15585-15550-15510-15475-15450 levels.

Special Mention: Yesterday, the Nifty index re-claimed once again and moved till 15817 and closed near our threshold support level i.e., 15780, today the Nifty index must break 15817-15835-15855 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 15780-15817 then, the weakness once again may drag the Index to re-test the panic bottom made on 28th July i.e., till 15513, further weakness below 15510 levels then, the Index will re-visit till 15432 levels in the near term. Let see, how the Index opens today at 15750-15780 levels, the intra volatility may be in a high, due to today's week-end and month-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 15600-15500 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 15500-15400 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