03.03.21 Wednesday, 8.39 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as written and expected. opened on positive note at 14865.30, our expected opening band i.e.,14790-14810-14840, on opening move, it made low 14815, thereafter, the Index moved up till our resistance levels ie., 14920, made high at 14930, further the intra weakness cum volatility dragged down the index, made day low 14760.80, once again the index moved up, made day high 14959.10 and closed at 14919.10 on positive note with intra gain 157.55 points i.e., 1.07%.

What will happen today? Nifty Index may open on positive note with gap up by tracking the global indices to test 14980-15010 if open, trade and sustain above 15010 then the Index may re-test 15070-15120-15150-15176-15225 levels. On the other hand, the immediate support lest at 14960-14900 if, trade and sustain below 14900 then, the Index may try to re-visit 14860-14840-14810-14760-14710-14650 levels.

Special Mention: Yesterday, as written the Nifty Index able to close above 14840 levels, if the Index closes today and tomorrow with weekly close above 14840 then, the pull back rally may take the Index till 15070-15175-15250 levels in the near term, further up move above 15250, may pave the way to re-test the recent all time high level i.e, 15430.  On the other hand, if the Index today unable to move above 15010-15070 then, the weakness may drag the Index once again till 14700-14465 levels very soon, further sell-off below 14465, then the Index may test 14300-14000 levels, let see how it opens today, near 14980-15010 and trade, sustain above 15010-15070 levels. The Intra volatility may be high from today, till Friday, due to tomorrow's weekly option expiry and Friday's week-end factor.

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 profit 5-10% gain, when Nifty index trades near 15070-15250 levels.

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