02.03.21 Tuesday, 8.33 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as written and expected. opened on positive note with gap up at 14702.50, our expected opening band i.e.,14695-14735, on opening move, it made low 14644, thereafter, the Index moved up till our resistance levels ie., 14820, made day high at 14806.80, further the intra weakness cum volatility dragged down the index, made day low 14638.55, once again moved up and closed at 14761.55 on positive note with intra gain 232.40 points i.e., 1.60%.

What will happen today? Nifty Index may open on positive note to test 14790-14810-14840 if open, trade and sustain above 14840 then the Index may re-test 14875-14890-14920-14950-15010-15070-15120-15175 levels. On the other hand, the immediate support lest at 14750-14710 if, trade and sustain below 14710 then, the Index may try to re-visit 14675-14640-14615-14595-14555-14510-14467 levels.

Special Mention: Yesterday, the Nifty Index able to sustain above 14740 levels, the pull back rally lifted the Nifty Index till 14806.80 and closed well above 14740, today the rally may continue tlll 14840-14950 levels, if the Index closes above 14840 for three consecutive trading sessions with weekly close then, the Index may re-test 15175-15320-15430 levels in the near term. On the other hand, if the Index today unable to move above 14810-14840 then, the weakness may drag the Index once again till 14500-14300-14000 levels in the near term, let see how it opens today, near 14810-14850 and trade, sustain above 14810-14840 levels.

Trading Strategy: The followers/readers, start to invest near 14500 levels in the Nifty 50 stocks for short to medium term perspective, try to book partial profit booking for 3-6% gain.

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