09.02.21 Tuesday, 8.36 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as written and expected opened on positive note at 15064.30, our expected opening band i.e.,14960-14495-15010, on opening move, it made day low 15041.05 thereafter, the Index moved up with volatile move till oure resistance levels i.e., 15160, made day high 15159.90, further it moved up and closed at 15115.80 on positive note with Intra minor gain 191.55 points i.e., 1.28%.

What will happen today? Nifty Index may open on flat to positive note to test 15110-15130-15160 if open, trade and sustain above 15160 then, the Index may test 15195-15230-15260-15300-15330 levels. On the other hand, the immediate support lies at 15070-15040 if, trade and sustain below 15040 then, the Index may try to re-visit 15015-14965-14940-14910-14885-14865 levels.

Special Mention: Yesterday, the Nifty Index continued its northward journey, moved up and made record all time high at 15159.90 and closed well above 15070; today, if the Index sustain this levels and closes above, today and tomorrow, then the Index may test 15330-15500 levels in the near term. On the other hand, if the Index unable to move above 15160 and not sustain above 15070 and trades below 15070-15015, then the weakness may drag the Index till 14865-14755-14575, further down move below 14575 then, the weakness may drag the Index till 14455-14360 levels in the near term, let see how it opens today, near 15110-15160 and trades. Trade with caution at the higher levels, I expect a mild technical sell-off today or before Thursday till 14950-14865 levels.

Trading Strategy: The followers/readers, who invested in the Nifty50 stocks during the recent downtrend near 13770-13600,  try to book profit near 15150-15330 levels in the Nifty Index.

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