11.02.21 Thursday, 8.36 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as written and expected opened on positive note at 15119.05, our expected opening band i.e.,15130-15170, on opening move, it made day high 15168.25 thereafter, the Index moved down till our support  level i.e., 15010, made low 15006, further the index moved up once again with volatile move till 15125, once again moved down and made a day low 14977.20, finally moved up and closed at 15106.50 on flat to negative note with intra marginal loss -2.80 points i.e., -0.02%.

What will happen today? Nifty Index may open on flat note to test 15110-15070 if open, trade and sustain below 15070 then, the Index may re-visit 15000-14975-14925-14865-14865-14805-14755 levels. On the other hand, the immediate resistance seen at 15145-15170 if, trade and sustain above 15170 then, the Index may try to test 15195-15220-15245-15260-15310-15330-15355 levels.

Special Mention: Yesterday, the Nifty Index unable to continue its northward journey,  as written the technical sell-off dragged  the Index till 14977, but closed well above 15070; today, the Index must sustain above this level, further it should reclimb above 15170, then only the Index can continue the upward momentum to test 15260-15330-15500 levels in the near term. On the other hand, if the Index unable to sustain above 15070, moves below 14970-14925, 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 15070-15110 and trades. Trade with caution, since the India Vix moved up, we can witness more volatile move today and tomorrow due to weekly option expiry and tomorrow's week-end factor, the technical sell-off may intensify if, the Index moves below 15070-14970 then it may test 14925-14865+14755 levels.

Trading Strategy: The followers/readers, who booked profit near 15270 levels, try to invest in partial manner at 14970-14750 in the Nifty50 stocks on medium term perspective for 5-10% return.

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