30.03.21 Tuesday, 8.33 am

Good Morning followers & readers 

What has happened on Friday? Nifty Index, as expected and written, opened on positive note with gap up at 14506.30, our expected opening band i.e.,14365-14420-14467, on opening move, it made day low at 14414.25 thereafter, the Index moved up throughout the day, made day high 14572.90 and closed at 14507.30 on positive note with intra gain 182.40 points i.e., 1.27%.

What will happen today? Nifty Index may open on positive note with gap up by tracking the global indices, to test 14620-14700 if open, trade and sustain above 14700 then the Index may re-test 14745-14780-14810-14845-14878-14925-14975 levels. On the other hand, the immediate support lies at 14575-14530 if, trade and sustain below 14530 then, the Index may try to re-visit 14500-14475-14445-14415-14375-14350-14335-14300-14265-14200 levels.

Special Mention: On Friday, the Index took strong support near 14400, moved up and closed well above the crucial support levels i.e., 14467, today, the Index must move and sustains above 14700-14750, then the pull back rally may continue to take the Index till 14805-14875, further move above 14875, then the next resistance seen at 14960-15050-15110 levels. On other hand, any weakness near 14700-14750, may drag the Nifty Index to re-visit 14575-14415 in the near term, further sell-off below 14415, may drag the Index once again till 14350-14260 levels very soon, further weakness at 14260, then the Index may re-visit 14040-13960-13600 levels in the near term, let see how the Nifty Index opens and sustain today at 14620-14700 levels. The Intra volaility may be high due to the long week-end and Month-cum-Quarter-end falls tomorrow moreover, this week we have only 3 trading sessions, hence the Nifty may trade with huge swing between 14900-14350, trade with caution is my advise at this juncture.

Trading Strategy: The followers/readers, who invested when the Nifty moved down at 14300, try to book profit till 14700-14900-15050 levels and wait for further down move and adopt buy on dips strategy near 14300-14000 in the Nifty Index levels 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

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Wishing you for a safe, secured and profitable trading