23.03.21 Tuesday, 8.36 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as written and expected, opened on flat to negative note at 14736.30, our expected opening band i.e.,14740-14700, on opening move, it made day high 14763.90 thereafter, the Index moved down and made day low 14597.85, further the last hour up move lifted the Index till day high and closed at 14736.40 on negative note with intra marginal loss -7.60 points i.e., -0.05%.

What will happen today? Nifty Index may open on flat to negative note by tracking the asian indices, to test 14715-14680 if open, trade and sustain below 14680 then the Index may re-visit 14660-14640-14595-14555-14515-14485-14435-14405-14350-14310 levels. On the other hand, the immediate resistance seen at 14745-14765-14788 if, trade and sustain above 14788 then, the Index may try to re-test 14810-14845-14900-14960-15010-15050-15070-15100-15125-15175-15225 levels.

Special Mention: Yestrerday, the Index opened with a negative bias, took support at 14600 and moved once again till 14750, but unable to close above 14745, though it tried for the last two trading sessions to close above this threshold levels, unabe to do so, yesterday made an inside formation pattern i.e., either not broken the previous day high (14788.25) or not moved below previous day low (14350.10), it infers that the iindecisiveness on the move, which will give us an answer today, if the Index moves and sustain above 14760-14788 levels, then the pull back rally may continue for some more trading sessions, to test 15050-15115-15300-15431 levels in the near term. On the other hand, if the Index unable to surpass above 14788 and the Index closes below 14745 today, then the weakness may drag to re-visit the panic bottom levels i.e., 14350, made on last Friday. Let see how, the Nifty Index is opens and sustain today at 14715-14680 levels. The Intra volaility may be high from today till week-end due to F&O Expiry falls on 25th March'21-Thursday, trade with caution and avoid aggressive long positions in the F&O segment.

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 14850-15050 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