17.02.21 Wednesday, 8.36 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as written and expected opened on positive note at 15371.45, our expected opening band i.e.,15535-15370, on opening move, it moved till our resistance levels, made day high 15431.75 thereafter, the Index moved down throughout the day, made day low 15242.20 and closed at 15313.45 on flat to negative note with marginal intra loss -1.25 points i.e., -0.01%.

What will happen today? Nifty Index may open on flat to negative note to test 15285-15242 if open, trade and sustain below 15242 then, the Index may re-visit 15220-15190-15165-15130-15100-15070 levels. On the other hand, the immediate resistance seen at 15320-15340-15370 if, trade and sustain above 15370 then, the Index may try to test 15395-15430-15465-15500-15535 levels.

Special Mention: Yesterday, the Nifty Index though it continued its northward journey and made new record all time high 15431.75, unable to sustain above 15370, the weakness cum sell-off dragged the Index till 15242, but closed well above 15255, if the Nifty Index closes today moves above 15370-15430, then it may test 15470-15530-15700 in the ner term. On the other hand, if the Index unable to sustain above 15340-15370, moves below 15240, then the weakness may drag the Index till 15070-14900 levels in the near term, let see how it opens today, near 15280-15242 and trades. We can expect the Intra volatility, it may be high due to tomorrow's weekly option expiry and Friday's week-end factor, trade with caution is my advise in this juncture. The FIIs continue their buying spree across the global market, India is also one of their favourite destination to earn handsome returns from the Indian stock market, it seems they are not bothered about the high or premium valuation, though the Price Earnings hovering near 42 times, let see how long and till, how far they continue the funds inflow in to the Indian equity market.

Trading Strategy: The followers/readers, who invested near 15k level watch 15370-15470-15530 levels, to book  partial profit for 5-10% return and wait  for the dips to re-invest again.

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