12.04.21 Monday, 8.33 am

Good Morning followers & readers 

What has happened on Friday? Nifty Index, as expected and written, opened on flat note at 14882.65, our expected opening band i.e.,14875-14830, on opening move, it made day high 14918.45 thereafter, the Index moved down throughout the day, till our support levels i.e., 14760, made day low 14785.65 and closed at 14834.85 on negative note with intra loss -38.95 points i.e., -0.26%.

What will happen today? Nifty Index may open on negative note with gap down by tracking the asian indices to test 14785-14750-14710 if open, trade and sustain below 14710 then, the Index may re-visit 14670-14620-14590-14570-14540-14500-14460-14415-14350-14265 levels. On the other hand, the immediate resistance seen at 14820-14885 if, trade and sustain above 14885 then, the Index may try to re-test 14920-14985-15025-15050-15095-15140-15180-15225 levels. 

Special Mention: On Friday, the Index not able to cross 14935-14985 levels and made a day high 14918 at the same time it was unable to move, below 14775 and closed well below 14885, today the Index must surpass 14885-14920 and closes above 14885-14920 for three consecutive trading sessions, then the Index may re-test 15050-15150-15220-15335 in the near term. It looks the super spreader second wave of Covid19, crossed second consecutive day above 1.50 lakh positive cases in India, may jitter the stock market, the global weakness confirms that, moreover the SGX Nifty already moved till 14585 and trading now near 14620, hence the Nifty may test 14660-14575 levels, further down move below 14575 then, the Index may re-visit 14350-14265-14070 levels in the near term, let us wait and watch, how the Nifty Index opens and sustain near 14710-14660 levels, be prepare for high volatility this week since, more events are expected such as IIP, Inflation and India Inc. Q4 corporate results are expected from today.   

Trading Strategy: The followers/readers, try to invest partially at 14660-14450-14250 levels on panic move with short to medium term perspective in the Nifty50 stocks for 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