09.04.21 Friday, 8.36 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as expected and written, opened on positive note at 14875.65, our expected opening band i.e.,14855-14885, on opening move, it made day low 14870.90 thereafter, the Index moved up till our resistance levels i.e., 14940-14995, made day high 14984.15, further the last hour sell-off dragged the Index, made a day low at 14821.10 and closed at 14873.80 on positive note with intra gain 54.75 points i.e., 0.37%.

What will happen today? Nifty Index may open on flat to negative note to test 14875-14830 if open, trade and sustain below 14830 then, the Index may re-visit 14760-14745-14710-14670-14620-14590-14560-14540-14500-14460 levels. On the other hand, the immediate reistance seen at 14885-14935 if, trade and sustain above 14935 then, the Index may try to re-test 14985-15025-15050-15095-15140-15180-15225  levels. 

Special Mention: Yesterday, though the Index able to cross 14885-14950 levels and made a day high 14984, but unable to close above 14885, today the Index must surpass 14950-14985 and closes above 14885-14950 for three consecutive trading sessions, 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 14885-14950-14985 and trades below 14820-14775 then, the weakness may drag the Index till 14575-14460 levels, further down move below 14460 then, the Index may re-visit 14350-14265 levels in the near term, let us wait and watch, how the Nifty Index opens and sustain near 14875-14830 levels. As written yesterday the Intraday volatility ruled the Index, today also we can expect a volatile move due to 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