26.02.21 Friday, 8.33 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as written and expected. opened on positive note at 15079.85, our expected opening band i.e.,15010-15030, on opening move, it made day low 15065.35, thereafter, the Index moved up till 15176.60, further the last hour sell-off dragged the Index once again near the day low and closed at 15097.35 on positive note with intra gain 115.35 points i.e., 0.77%.

What will happen today? Nifty Index may open on negative note with gap down by tracking the global indices to test 15020-14970 if open, trade and sustain below 14970 then the Index may re-visit 14910-14855-14840-14800-14760-14725-14700-14650-14635 levels. On the other hand, the immediate resistance seen at 15070-15110 if, trade and sustain above 15110 then, the Index may try to re-test 15140-15175-15210-15260-15300 levels.

Special Mention: Yesterday, the Nifty Index moved above 15070, made high 15176 and closed well above 15070, it seems the global sell-off once again dragged down the global indices, especially the US Dow Jones lost around 560 points, the Asian Indices are also trading in negative bias with -2% to -3%, this sell-off may iimpact the Nifty Index today, to open with gap down move till 15020-14970 levels, if the Index moves and sustains below 14970, then the Index may re-visit the latest low point 14635, further weakness below 14635, it may test 14340-14000 levels very soon. On the other hand, if the Index today able to take support 14960-15020, then it may consolidate between 14960-15020-15175, further strong upmove above 15175, then 15260-15300-15430 are possible levels to re-test in the near term, let see how it opens today, near 15020-14970. The volatility may raise today due to week-end and month-end factor, trade with due caution is my advice, in this juncture and avoid long position in F&O Segment.

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