05.03.21 Friday, 8.41 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as written and expected. opened on negative note with gap down at 15026.75, our expected opening band i.e.,15100-15070-15040, on opening move, it made high 15100, thereafter, the Index moved down near our support level ie., 14965, made day low 14980 50, further intra volatility lifted the Index, made day high at 15202.35 and closed at 15080.75 on negative note with intra loss -164.85 points i.e., -1.08%.

What will happen today? Nifty Index may open on negative note with gap down by tracking the global indices to test 14980-14920 if open, trade and sustain below 14920 then the Index may re-visit 14870-14820-14775-14715-14665-14635 levels. On the other hand, the immediate resistance seen at 15000-15080 if, trade and sustain above 15080 then, the Index may try to re-test 15100-15135-15170-15200-15270-15300-15350 levels.

Special Mention: Yesterday, the Index moved down due to global sell-off till 14980, though it moved once again till 15200 but unable to surpass 15250-15270 levels, the pull back rally reached its  high point i.e., 15250-15270 levels, hereafter the Index must trade and close above 15270 for three consecutive trading sessions, then only it can re-test the all time high point i.e., 15430, further up move above 15430 then 15530-15700 possible levels. On the other hand, the weakness below 15070-15000, may drag the Index till 14850-14650 levels, further weakness below 14650, may drag the Index till 14465 levels in the near term. Let see how it opens today, near 14980-14920 and trade, sustain below 14920 levels. The Intra volatility may be high today due to 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