08.04.21 Thursday, 8.33 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as expected and written, opened on positive note at 14716.45, our expected opening band i.e.,14685-14720, on opening move, it made day low 14649.45 thereafter, the Index moved up throughout the day till our resistance levels i.e., 14883, made day high 14879.80 and closed at 14819.05 on positive note with intra gain 135.55 points i.e., 0.92%.

What will happen today? Nifty Index may open on positive note to test 14855-14885 if open, trade and sustain above 14885 then, the Index may re-test 14915-14940-14995-15040-15090-15145-15225 levels. On the other hand, the immediate support lies at 14805-14780 if, trade and sustain below 14780 then, the Index may try to re-visit 14745-14710-14650-14610-14575-14540-14500-14460 levels. 

Special Mention: Yesterday, the Index able to test 14850-14883, made a day high 14879.80, but not able to cross 14883, the RBI on their MPC meet maintained the status quo, the repo & reverse repo rates were unchanged, they continue to maintain the accommdative stance to stimulate the economy, these commitments lifted positive sentiment on the Nifty Index. Today the Index must surpass 14885-14950, if the Index closes above 14885 for three consecutive trading sessions with weekly basis, then the Index may re-test 15050-15150-15220-15335 in the near term. On the other hand if, the index unable to moves above 14885-14950, further weakness below 14800-14750, may drag the Index till 14575-14460, further down move below 14460 then, the Index may re-visit 14350-14265 levels, let us wait and watch, how the Nifty Index opens and sustain near 14855-14885 levels. The Intraday volatility may rise due to weekly option exiry and tomorrow's week-end factor, trade with caution is my advise at this juncture.  

Trading Strategy: The followers/readers, who holds the position, which bought during recent fall near 14400-14260, book profit till 14950-15050-15220 levels or 10-20% return on the stocks, which you have bought and wait for the further dips, when the Nifty moves down at 14300-14000, you may invest in the Nifty 50 stocks for short to medium term perespective with 5-10% return.

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