11.08.21 Wednesday, 8.34 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as expected and written, opened on a flat note at 16274.80, our expected opening band i.e.,16250-16275, on opening move, it made a day high 16359.25 thereafter, the index moved down throughout the day and made a day low 16202.25, further the Index moved up and closed the day at 16280.10 on a positive note with an intra gain 21.85 points i.e., 0.13%.

What will happen today? Nifty Index may open on a positive note at 16290-16320-16350 if open, trade and sustain above 16350 then, the Index may try to test 16390-16410-16430-16450-16467-16495-16510 levels. On the other hand, the immediate support lies at 16260-16200, if the Index moves below 16200 then, it may try to re-visit 16176-16160-16145-16110-16075-16035-16000-15962 levels.

Special Mention: Yesterday, the Nifty index continue its northward journey once again, broken the recent all time high 16349.45, made a fresh all time high 16359.25 further, the index moved till 16202 and closed well above 16225 levels on consecutive basis for three trading sessions, it infers that the Nifty index may continue to move up till 16465-16710 levels in the near term. On the other hand, if the Index unable to move above 16360-16410 then, the Index may te-test 16176 further weakness below 16176 then, the index may re-visit 15962 levels very soon. Let see, how the Index opens today at 16290-16320-16350 levels, the intra volatility may be in high note, due to tomorrow's weekly option expiry and Friday's week-end factor. 

Trading Strategy: The followers/readers, those who invested near 15600-15500 in Nifty50 stocks, may start book profit booking at 16350-16465 levels in Nifty Index or if, the stocks which gives 10-15% profit then, book profit and wait for further dip till 15965-15780 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

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Wishing you for a safe, secured and profitable trading