13.04.21 Tuesday, 8.36 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as expected and written, opened on negative note with gap down at 14644.45, our expected opening band i.e.,14750-14710, on opening move, it made day high 14652.50 thereafter, the Index moved down throughout the day, till our support levels i.e., 14265, made day low 14248.70 and closed at 14310.80 on negative note with intra loss -524.05 points i.e., -3.53%.

What will happen today? Nifty Index may open on positive note with mild gap up by tracking the asian indices to test 14350-14380-14420 if open, trade and sustain above 14420 then, the Index may re-test 14450-14475-14530-14570-14610-14650-14705-14760 levels. On the other hand, the immediate support lies at 14300-14250 if, trade and sustain below 14250 then, the Index may try to re-visit 14205-14160-14110-14070 levels. 

Special Mention: Yesterday, the Covid19- fear spooked the Indian stock market, the lockdown fears dragged the Nifty Index till our threshold support level i.,e 14265, made low 14248.70 and closed well below 14350, today the Index must take support at 14350, then the pull back rally may lift the Index till 14460-14650-14770 in the near term. On the other hand if, the Index fails to move above 14460-14650, may drag the Index once again till 14350-14250, below 14250, the Index may re-visit 14070-13600 very soon. The IT major TCS announced their Q4 results yesterday, though the numbers are above the street expectation, we must see how the IT index trading today, since Infosys results are expected tomorrow and the domestic IIP data released yesterday, as I have written in the Nifty Index weekly outlook, the Feb IIP data contracted by -3.60% when compares with Jan IIP was at -0.90, the Annual Inflation also moved to 5.52%. Let us wait and watch, how the Nifty Index opens and sustain near 14350-14380-14420 levels, be prepare for high volatility today, since tomorrow is a trading holiday, trade with caution is my advise in this junture.   

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