10.08.21 Tuesday, 8.34 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as expected and written, opened on a flat to positive note at 16281.35, our expected opening band i.e.,16275-16290, on opening move, it made a day high 16320.75 thereafter, the index moved down throughout the day and made a day low 16179.05, further the Index closed the day at 16258.25 on a positive note with an intra gain 20.05 points i.e., 0.12%.

What will happen today? Nifty Index may open on a flat note at 16250-16275 if open, trade and sustain above 16275 then, the Index may try to test 16290-16310-16325-16349-16360-16390-16410 levels. On the other hand, the immediate support lies at 16230-16210, if the Index moves below 16210 then, it may try to re-visit 16176-16145-16105-16060-16030-16000-15962-15930 levels.

Special Mention: Yesterday, the Nifty index continue its downward journey and tested our first level support zone near 16176, made a day low 16179 and bounced from that level, further, the Index closed well above 16225 levels. Today the Nifty index must take support 16225-16176-16145, any weakness below 16145 then the Index may re-visit 16100-16070-15962 levels in the near term.  On the other hand, if the Index able to move above 16290-16320 then, the Index may te-test 16350 further move above 16350, the Index may test 16410-16545-16700 levels very soon. Let see, how the Index opens today at 16250-16275 levels, avoid aggressive long position, unless the Index closes above 16350 for three consecutive trading sessions. 

Trading Strategy: The followers/readers, those who invested near 15600-15500 in Nifty50 stocks, may start book profit booking at 16290-16350 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