10.02.21 Wednesday, 8.39 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as written and expected opened on positive note at 15164.15, our expected opening band i.e.,15110-15160, on opening move, it made low 15135 thereafter, the Index moved up till our resistance levels i.e., 15260, made day high 15257.10, further the intra sell-off dragged the Index till our support levels i.e., 15070, made day low 15064.30 and closed at 15109.30 on negative note with Intra marginal loss  -6.50 points i.e., -0.04%.

What will happen today? Nifty Index may open on flat to positive note to test 15130-15170 if open, trade and sustain above 15170 then, the Index may test 15200-15235-15260-15310-15330-15355 levels. On the other hand, the immediate support lies at 15110-15070 if, trade and sustain below 15070 then, the Index may try to re-visit 15010-14965-14940-14900-14885-14865-14755 levels.

Special Mention: Yesterday, the Nifty Index continued its northward journey, moved up and made record all time high at 15257.10, though the expected technical sell-off dragged the Index till our threshold levels i.e., 15070, but able to close well above 15070; today, the Index must sustain above this level and trades above 15160-15270, 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 15070-15010, 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 15130-15170 and trades. Trade with caution at the higher levels, since the India Vix moved up, we can witness more volatile move today and tomorrow due to weekly option expiry, the technical sell-off may intensify if, the Index moves below 15070-15010, then it may test 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