26.08.21-Thursday, 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 16654, our expected opening band i.e.,16630-16665, on opening move, it made a day high 16712.45 thereafter, the last hour intra sell-off dragged the index  down, made a day low 16617.50 and closed at 16634.65 on a positive note with an intra marginal gain 10.05 points i.e., 0.06%.

What will happen today? Nifty Index may open on a flat to negative note at 16625-16610-16590 if open, trade and sustain below 16590 then, the Index may try to re-visit 16565-16535-16509-16460-16415-16365 levels. On the other hand, the immediate resistance seen at 16645-16665-16685 if, the Index moves above 16685 then, it may try to test 16710-16735-16757-16790-16825 levels.

Special Mention: Yesterday, the Nifty index though it continued the pull back till 16712, the intra sell-off once again dragged till 16617 and closed well below 16665, today the Index must take support near 16590-16510 then, it may try to re-test 16710-16865-16900 levels in the near term. On the other hand, any weakness below 16535-16500 then, the  weakness cum sell-off may drag the Index  till 16450-16365-16225-16165 levels very soon. Let see, how the Index opens today at 16625-16610-16590 levels. The Intraday volatility may be in high note due to today's F&O expiry and tomorrow'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

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Wishing you for a safe, secured and profitable trading