03.08.21 Tuesday, 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 15874.90, our expected opening band i.e.,15862-15890, on opening move, it made a day low at 15834.65 thereafter, the index moved up and made a day high till 15892.90 and closed the day at 15885.15 on a positive note with an intra gain 122.10 points i.e., 0.77%.

What will happen today? Nifty Index may open on a flat note at 15865-15885-15892 if open, trade and sustain above 15892 then, the Index may try to re-test 15915-15935-15962-15985-16005-16025 levels. On the other hand, the immediate support lies at 15845-15820, if the Index moves below 15820 then, it may try to re-visit 15780-15760-15745-15710-15685-15660-15630-15605-15585-15550-15510 levels.

Special Mention: Yesterday, the Nifty index continued the pull back rally till 15892.90 and closed above our threshold resistance level i.e., 15862, today the Nifty index must move above 15900-15915 levels then, it may try to re-bound till 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 15900-15915 then, the weakness once again may drag the Index to re-test the 15780-15665-15513, 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 15865-15885-15892 levels, the volatility may be in a high note, the entire week, due to RBI MPC bi-monthly meet which is scheduled from 04-06th Aug'21, trade with due caution and avoid aggressive short position, unless the Index breaks and closes below 15780-15740 for three consecutive trading sessions, as well as aviod aggressive long position, unless the Nifty index surpass 15962 and closes above this level for three consecutive trading sessions.

Trading Strategy: The followers/readers, those who invested near 15600-15500 in Nifty50 stocks, may start book partial profit booking at 15860-15960 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

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