22.03.21 Monday, 8.39 am

Good Morning followers & readers 

What has happened on Friday? Nifty Index, as written and expected, opened on negative note with gap down at 14471.15, our expected opening band i.e.,14500-14467, on opening move, it made day low 14350.10 thereafter, the Index moved up throughout the day, made day high 14788.25 and closed at 14744 on positive note with intra gain 186.15 points i.e., 1.28%.

What will happen today? Nifty Index may open on flat to negative note by tracking the global indices to test 14740-14700 if open, trade and sustain below 14700 then the Index may re-visit 14660-14615-14595-14570-14545-14520-14485-14455-14405-14350-14310-14230 levels. On the other hand, the immediate resistance seen at 14788-14845 if, trade and sustain above 14845 then, the Index may try to re-test 14905-14970-15010-15050-15070-15125-15175-15200-15240 levels.

Special Mention: On Friday, the Index opened with a gap down near 14470, made a panic bottom at 14350, further stong pull back lifted the Index till 14788, which infers that the Nifty index may take support 14400-14350 for the time being, if the Index moves and closes below 14350 for three consecutive trading sessions, then only it may re-visit 14200-14000 levels. On the other hand, if the Index moves above 14788-14850 and closes above 14788 for three trading sessions then, it may re-test once again 14890-15050-15200 levels in the near term. Let see how, the Nifty Index is opens and sustain today at 14745-14700 levels. 

Trading Strategy: The followers/readers, who invested last Friday near 14500-14350, especially on IT stocks, as I stated, try to start book partial profit for 4-6% return and hold the rest for the target around 10-15% also, watch the Nifty Index around 14870-15070 to break, else you can book full profit and wait for further down move to  adopt buy on dips strategy near 14400-14200-14000 in the Nifty Index levels and stay invested in Nifty 50 stocks for short to medium term perespective.

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

Further details please do call us on 98410 48022 or contact thro' whatsapp: 99624 70636. Please read carefully, the Disclaimer published in the Disclaimer page.

Wishing you for a safe, secured and profitable trading