12.03.21 Friday, 8.36 am

Good Morning followers & readers 

What has happened on Wednesday? Nifty Index, as written and expected. opened on positive note with gap up at 15202.15, our expected opening band i.e.,15180-15205, on opening move, it made day high 15218.45 thereafter, the Index moved down, made day low 15100.85, further the intra pull back lifted the Index near day high and closed at 15174.80 on posiitive note with intra gain 76.40 points i.e., 0.51%.

What will happen today? Nifty Index may open on positive note to test 15240-15285-15320 if open, trade and sustain above 15320 then the Index may re-test 15375-15431-15480-15530 levels. On the other hand, the immediate support lies at 15220-15170 if, trade and sustain below 15170 then, the Index may try to re-visit 15100-15070-15030-14965-14920 levels.

Special Mention: On Wednesday, the Index was able to surpass and close above 15170 levels, today if the Nifty index open and trades above 15220-15240-15285, then the Index may re-test 15330-15432 very soon, further up move above 15432 then 15530-15700 possible levels in the near term. On the other hand, the weakness below 15170-15100 may drag the Index till 15070-15020 levels, below 15020, then the Index may re-visit 14860-14470 levels in the near term. Let see, today how it opens near 15220-15285 levels, the week-end factor may rise the intra volatility, trade with caution is my advise at this juncture.

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 near 15270-15330-15430 levels and wait for further dips to invest again on short to 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