08.03.21 Monday, 8.39 am

Good Morning followers & readers 

What has happened Friday? Nifty Index, as written and expected. opened on negative note with gap down at 14977.95, our expected opening band i.e.,14980-14920, on opening move, it made low 14931, thereafter, the Index moved up, made day high 15092.35, further weakness at the high level dragged down the Index, made day low at 14862.10 and closed at 14938.10 on negative note with intra loss -142.65 points i.e., -0.95%.

What will happen today? Nifty Index may open on positive note to test 14965-14995 if open, trade and sustain above 14995 then the Index may re-test 15025-15070-15092-15122-15155-15180-15230-15273 levels. On the other hand, the immediate support lies at 14950-14920 if, trade and sustain below 14920 then, the Index may try to re-visit 14890-14862-14830-14800-14765-14730-14695-14660 levels.

Special Mention: On Friday, the Index unable to sustain above 15070, the weakness dragged till 14862, it looks the Nifty index may trade this week with broad based consolidation move between 15273-14467, further move is depends on breaking either of these ranges, may pave the way to move on the respective direction, if the Nifty moves and closes above 15270 then only it may re-test the all time high point i.e., 15431.75, further up move above 15430 then 15530-15700 possible levels. On the other hand, the weakness below 14750 may drag the Index till 14467 levels very soon, below 14467, then the Index may test 14300-14000 levels in the near term. Let see, today how it opens near 14995-14965 levels. The international Crude Oil price is moving up and trading near $67 per barrel, the cascading effect already seen in the domestic prices across the sectors, it may impact the growth rate of the Indian economy, the price of the Crude Oil may test $70-75 per barrel very soon.

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 and wait for 14650-14460 levels to invest  partially on medium term perspective.

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