25.03.21 Thursday, 8.36 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as expected and written, opened on negative note at 14712.45, our expected opening band i.e.,14785-14745, on opening move, it made day high at 14752.35 thereafter, the Index moved down throughout the day, made day low 14535 and closed at 14549 on negative note with intra loss -265.35 points i.e., -1.79%.

What will happen today? Nifty Index may open on flat to positive note, to test 14550-14595 if open, trade and sustain above 14595 then the Index may re-test 14620-14640-14665-14705-14745-14775-14810-14840-14878-14900-14960 levels. On the other hand, the immediate support lies at 14535-14505 if, trade and sustain below 14505 then, the Index may try to re-visit 14478-14440-14405-14350-14310-14255 levels.

Special Mention: Yestrerday, the Index unbale to sustain above 14745, and moved down till 14535 and closed well below 14745 levels, the last hope for the Bulls, lies at 14535-14465-14350, if the Nifty Index moves down and closes below 14465-14350 then, the Index may re-visit 14250-14400-13600 in the near term. On the other hand, the immediate major hurdle seen at 14745-14900, unless the Nifty Index moves and closes above 14900, then it may not continue the northward journey and the upside will be capped with 14745-14900 levels, it seems the Nifty Index may re-visit till 13600 in April'21, this view may be negated only if the Index closes above 14900 for three consecutive tradng sessions, then it may re-test 15050-15200-15336 levels, let see how the Nifty Index opens and sustain today at 14550-14595 levels. The Intra volaility may be high today and tomorrow due to F&O Expiry and week-end factor, 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  book and wait for further down move to  adopt buy on dips strategy near 14350-14200-14000 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