18.02.21 Thursday, 8.39 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as written and expected opened on flat to negative note at 15279.90, our expected opening band i.e.,15285-15242, on opening move, it moved till our support levels, made low near15200 thereafter, the Index moved up and made day high 15314.30, further the last hour sell-off dragged the Index once again near our further support levels i.e., 15165, made day low 15170.75 and closed at 15208.90 on negative note with intra loss -104.55 points i.e., -0.68%.

What will happen today? Nifty Index may open on flat to positive note to test 15245-15270 if open, trade and sustain above 15270 then, the Index may test 15295-15315-15340-15355-15400-15430-15470 levels. On the other hand, the immediate support lies at 15210-15170 if, trade and sustain below 15170 then, the Index may try to re-visit 15130-15100-15070-15020-14975-14920-14850 levels.

Special Mention: Yesterday, the Nifty Index unable to surpass 15370, the weakness dragged the Index till 15170 and closed well below 15255, if the Nifty Index closes below 15255 for two more consecutive trading sessions then, the Index will see more selling pressure with weakness, which may drag the Index till 15070-14850-14750 levels very soon. On the other hand, if the Index able to sustain above 15255-15370, moves above , then the  Index may try to test 15430-15470 levels in the near term, further upmove above 15470 then it may test 15530-15700 levels. The intra volatility as written and expected yesterday ruled the Index, today's  weekly option expiry and tomorrow's week-end factor, may rise the volatility further, trade with caution is my advise in this juncture. It looks the Nifty may not move below 15100-15000 levels, since the FIIs continue their buying mode, let wait and watch how it trades today and tomorrow, any further correctiion possible only if the Index moves below 15000-14970.

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