24.02.21 Wedensday, 8.50 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as written and expected. opened on positive note at 14782.25, our expected opening band i.e.,14755-14775-14820, on opening move, it made day high 14782.25, thereafter, the Index moved down near our support level i.e., 14635, made day low 14651.85, further it moved up till 14854.50 and closed at 14707.80 on positive note with intra gain 32.60 points i.e., 0.22%.

What will happen today? Nifty Index may open on flat note to test 14730-14680 if open, trade and sustain below 14680 then the Index may re-visit 14650-14630-14595-14575-14535-14515-14475-14410-14340 levels. On the other hand, the immediate resistance seen at 14785-14820 if, trade and sustain above 14820 then, the Index may try to re-test 14855-14880-14940-14985-15010-15080-15130 levels.

Special Mention: Yesterday, the Nifty Index made an inside formation, not broken the high or low of 22nd Feb, it infers that the indecisiveness on further direction, today Nifty Index must move above 14850 to test 15010, to continue the upward rally till 15250, else, if the Index moves below 14652-14635 and closes below 14635, 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 14730-14680. Also, seen some global markets weakness and FIIs were sold yesterday also in the Indian equity market, we should wait and watch the further move. The volatility may raise today till Friday due to F&O Expiry and Friday's week-end factor, trade with due caution.

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

Further details please do call us on 98410 48022 or contact thro' whatsapp: 99624 70636. Please read carefully, the Disclaimer published in the Disclaimer page.

Wishing you for a safe, secured and profitable trading