04.08.21 Wednesday, 8.39 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as expected and written, opened on a positive note at 15951.55, our expected opening band i.e.,15885-15892, on opening move, it made a day low at 15914.35 thereafter, the index moved up throughout the day and made a day high 16146.90, further the Index closed a day at 16130.75 on a positive note with an intra gain 245.60 points i.e., 1.55%.

What will happen today? Nifty Index may open on a positive note at 16146-16175-16190 if open, trade and sustain above 16190 then, the Index may try to test 16210-16225-16240-16285 levels. On the other hand, the immediate support lies at 16070-16025, if the Index moves below 16025 then, it may try to re-visit 16000-15962-15940-15915-15885-15850 levels.

Special Mention: Yesterday, the Nifty index broken the threshold resistance level i.e., 15962, the breakout above 15962 lifted the index till 16146 and close well above 15962, today the Nifty index must move above 16190-16225 levels then, it may try to test 16350-16465 levels in the near term. On the other hand, if the Index unable to trade and sustain above 16190-16225 then, the weakness once again may drag the Index to re-test the 15962-15780, further weakness below 15780 levels then, the Index will re-visit till 15432 levels in the near term. Let see, how the Index opens today at 16146-16190-16225 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 long position, unless the Index closes above 16146-16225 for three consecutive trading sesssions.

Trading Strategy: The followers/readers, those who invested near 15600-15500 in Nifty50 stocks, may start book profit booking at 16150-16250 levels in Nifty Index or if, the stocks which gives 10-15% profit then, book profit and wait for further dip till 15960-15780 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