16.04.21 Friday, 8.36 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as expected and written, opened on positive note at 14522.40, our expected opening band i.e.,14560-14595, on opening move, it made high 14565 thereafter, the Index moved down till our threshold support levels i.e., 14350, made day low 14353.20, further the last hour pull back lifted the Index till 14597.55 and closed at 14581.45 on positive note with intra gain 76.65 points i.e., 0.53%.

What will happen today? Nifty Index may open on flat to positive note to test 14595-14625 if open, trade and sustain above 14625 then, the Index may re-test 14652-14675-14705-14765-14785-14797-14825 levels. On the other hand, the immediate support lies at 14555-14530 if, trade and sustain below 14530 then, the Index may try to re-visit 14480-14445-14410-14380-14350-14310-14285-14250 levels. 

Special Mention: Yesterday, the Nifty Index managed to take support our threshold levels i.e,14350, as expected the pull back rally lifted the Index near 14600 and close well above 14350, today the Index must move above 14625-14660, further rally above 14660, the pull back rally may continue till 14785-14985 in the near term. On the other hand if, the Index fails to move above 14625-14660 then, the weakeness may drag the Index once again till 14450-14350-14250, below 14250, the Index may re-visit 14070-13600 very soon. Let us see how the Nifty Index opens at 14595-14625, the Intraday volatility may be high due to 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