01.04.21 Thursday, 8.33 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as expected and written, opened on negative note at 14811.85, our expected opening band i.e.,14830-14805, on opening move, it made day high 14813.75 thereafter, the Index moved down throughout the day till our support levels i.e., 14675, made day low 14670.25 and closed at 14690.70 on negative note with intra loss -154.40 points i.e., -1.04%.

What will happen today? Nifty Index may open on positive note to test 14750-14785 if open, trade and sustain above 14785 then, the Index may re-test 14815-14850-14875-14920-14945-14975-15025-15060 levels. On the other hand, the immediate support seen at 14725-14705 if, trade and sustain below 14705  then, the Index may try to re-visit 14670-14625-14595-14575-14500-14415-14350 levels. 

Special Mention: Yesterday, the Index unable to move up above 14875, opened with a weak note and tested till 14670 and closes well below 14745 levels, it made an inside day formation, i.e., either not broken the previous day high (14876.25) or low (14617.60) point, it shows the indecsiveness on the Nifty Index movement, today the Index must break either of these ranges i.e., 14876 on the higher side or the lower point i.e.,14617, we should wait and watch which one breaks first, then the Index may moves that direction, If the Nifty Index moves, sustains below 14670-14617, then the weakness may drag the Index to re-visit 14575-14415 very soon, further sell-off below 14415 may drag the Index once again till 14350-14265 levels in the near term. On the other hand, if the Index moves above 14820-14876 then the Index may re-test 14950-15050-15110-15220 levels in the near term. The Intra volaility may be high due to the long week-end factor, 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