10.03.21 Wednesday, 8.50 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as written and expected. opened on positive note at 15049.90, our expected opening band i.e.,15020-15070, on opening move, it made high 15119, thereafter, the Index moved down, made day low 14925.95, further the last hour pull back lifted the Index, made day high 15126.85 and closed at 15098.40 on posiitive note with intra gain 142.20 points i.e., 0.95%.

What will happen today? Nifty Index may open on positive note with gap up by tracking the global indices to test 15180-15205 if open, trade and sustain above 15205 then the Index may re-test 15230-15273-15300-15330 -15385-15430 levels. On the other hand, the immediate support lies at 15170-15130 if, trade and sustain below 15120 then, the Index may try to re-visit 15070-15030-14965-14920-14865 levels.

Special Mention: Yesterday, as expected the Index was trading within 200 pts range and able to sustain above 15070, moved up and closed well above 15070 and took the support near 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 15180-15205 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 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