25.08.21-Wednesday, 8.34 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as expected and written, opened on a positive note with a gap up at 16561.40, our expected opening band i.e.,16540-16570-16590, on opening move, it made a day low 16495.30 thereafter, the index moved up throughout the day and made a day high 16647.10 and closed at 16624.60 on a positive note with an intra gain 128.15 points i.e., 0.78%.

What will happen today? Nifty Index may open on a flat to positive note at 16630-16645-16665 if open, trade and sustain above 16665 then, the Index may try to test 16680-16705-16745-16790-16820 levels. On the other hand, the immediate support lies at 16605-16590-16575 if, the Index moves below 16570 then, it may try to re-visit 16540-16500-16455-16415-16376 levels.

Special Mention: Yesterday, the Nifty index continued the pull back till 16647.40 and closed well above 16625, today the Index must move above 16665-16710 levels, above 16710 then, 16790-16865-16900 possible levels in the near term. On the other hand, the Index fails to move above 16665-16710 then, the weakness below 16600-16540, may drag the index till 16365-16225-16165 levels very soon. Let see, how the Index opens today at 16630-16645-16665 levels. The Intraday volatility may be in high note due to tomorrow's F&O expiry and Friday's week-end factor, avoid agressive short position; as well as, long position until the Index surpass and closes above 16710 for three consecutive trading sessions.

Trading Strategy: The followers/readers, those who re-invested near 16365 levels on Friday, try to book partially at 16665-16700 levels or if, the stocks gives profit 5-10% and wait for the up movement or further dips.

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

For 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