09.03.21 Tuesday, 8.33 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as written and expected. opened on positive note at 15002.45, our expected opening band i.e.,14965-14995, on opening move, it made day high 15111.15, thereafter, the Index throughout the day moved down, made day low 14919.90 and closed at 14956.20 on posiitive note with marginal intra gain 18.10 points i.e., 0.12%.

What will happen today? Nifty Index may open on positive note to test 15020-15070 if open, trade and sustain above 15070 then the Index may re-test 15110-15135-15160-15185-15205-15230-15273 levels. On the other hand, the immediate support lies at 15030-14990 if, trade and sustain below 14990 then, the Index may try to re-visit 14965-19920-14865-14810-14770-14720-14665 levels.

Special Mention: Yesterday, as expected the Index was trading within the range and unable to sustain above 15070, the weakness dragged till 14920, as stated yesterday 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, then it 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 15020-15070 levels. The international Crude Oil price moved up till $68 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 if not move below $63-60 per barrel then, it may test $70-75 per barrel in the near term.

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