31.03.21 Wednesday, 8.36 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as expected and written, opened on positive note with gap up at 14628.50, our expected opening band i.e.,14620-14700, on opening move, it made day low at 14617.60 thereafter, the Index moved up throughout the day till our threshold levels i.e., 14875, made day high 14876.30 and closed at 14845.10 on positive note with huge intra gain 337.80 points i.e., 2.33%.

What will happen today? Nifty Index may open on flat to negative note to test 14830-14805 if open, trade and sustain below 14805 then, the Index may re-visit 14775-14745-14720-14700-14675-14640-14610-14575-14500-14415 levels. On the other hand, the immediate resistance seen at 14845-14876 if, trade and sustain above 14876 then, the Index may try to re-test 14920-14945-14975-15025-15060-15105-15160-15215 levels.

Special Mention: Yesterday, the Index took strong support near 14620, moved up till our threshold levels i.e., 14875 and closed well above the crucial support levels i.e., 14745, today, if the Index moves, sustains above 14875, then the pull back rally may continue to take the Index till 14950-15050-15110-15215-15335 levels. On the other hand, any weakness near 14875-14950, may drag the Nifty Index to re-visit 14750-14600 very soon, further sell-off below 14600 may drag the Index once again till 14500-14350-14260 levels in the near term, let see how the Nifty Index opens and sustain today at 14830-14805 levels. The Intra volaility may be high due to the Month-cum-Quarter and financial year end too, hence the Nifty may trade with huge swing between 14900-14400, 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 14875-15050 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