23.02.21 Tuesday, 8.33 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as written and expected. opened on negative note at 14999.05, our expected opening band i.e.,15070-15040, on opening move, it made day high 15010.10 thereafter, the Index throughout the day moved down beyond our support level i.e., 14815, made day low 14635.05 and closed at 14675.70 on negative note with intra loss -306.05 points i.e., -2.04%.

What will happen today? Nifty Index may open on positive note by tracking the global indices to test 14755-14775-14820 if open, trade and sustain above 14820 then the Index may re-test 14898-14940-15010-15070-15095-15110-15140 levels. On the other hand, the immediate support lies at 14675-14635 if, trade and sustain below 14635 then, the Index may try to re-test 14575-14535-14515-14475-14410-14340 levels.

Special Mention: Yesterday, the Nifty Index unable to sustain above 15070, the weakness dragged the Index once again till our further support levels i.e., 14640 and closed well below 14750, today the Nifty Index must trade,  sustains and closes above 14750-14820 for three consecutive trading sessions, then only the downward trend may stop, further move above 15070 may take Index to test 15170-15260-15330-15430 levels. On the other hand if, the Index not sustain at 14750-14820, then the weakness may drag the Index till 14530-14340-14220 levels very soon. As expected the correction dragged the Index till 14640, let see today how it opens near 14750-14820. Also, seen some global markets weakness and FIIs are started yesterday to sell in the Indian equity market, we should wait and watch the further move.

Trading Strategy: The followers/readers, start to invest partially near 14700-14400 levels in the Nifty 50 stocks for short to medium term perspective  to gain 10-15%  in the near term.

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