15.04.21 Thursday, 8.39 am

Good Morning followers & readers 

What has happened on Tuesday? Nifty Index, as expected and written, opened on positive note at 14364.90, our expected opening band i.e.,14350-14380-14420, on opening move, it made day low 14274.80 thereafter, the Index moved up throughout the day, till our resistance levels i.e., 14530, made day high 14528.90 and closed at 14504.80 on positive note with intra gain 194 points i.e., 1.36%.

What will happen today? Nifty Index may open on positive note to test 14560-14595 if open, trade and sustain above 14595 then, the Index may re-test 14620-14660-14705-14765-14795-14820 levels. On the other hand, the immediate support lies at 14530-14500 if, trade and sustain below 14500 then, the Index may try to re-visit 14465-14430-14400-14370-14335-14300-14265-14230-14200-14170 levels. 

Special Mention: On Tuesday, the Nifty Index managed to take support our threshold levels i.e,14265, as expected the pull back rally lifted the Index till 14528 and close well above 14350, today the Index must move above 14530-14575, further rally above 14575, the pull back rally may continue till 14650-14785-14985 in the near term. On the other hand if, the Index fails to move above 14530-14575 then, the weakeness may drag the Index once again till 14350-14250, below 14250, the Index may re-visit 14070-13600 very soon. The IT major TCS & Infosys already announced their Q4 results, though the numbers are above the street expectation on TCS, but the Infosys numbers disappointed, witnessed a dip by 2.32% on QoQ basis, the company board approved share buyback programme worth up to Rs 9,200 crore priced at Rs 1,750 per share, a premium of 25.12 per cent over the stock's closing price on the NSE, of Rs 1,397.15 per share. Let us see how the Nifty Index opens at 14560-14595 and the Intraday volatility may be high due to weekly option expiry and tomorrow's week-end factor, 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