19.04.21 Monday, 8.36 am

Good Morning followers & readers 

What has happened on Friday? Nifty Index, as expected and written, opened on positive note at 14599.60, our expected opening band i.e.,14595-14625, on opening move, it made low 14559 thereafter, the Index moved up till our resistance levels i.e., 14675-14705, made day high 14697.70 and closed at 14617.85 on positive note with intra gain 36.40 points i.e., 0.25%.

What will happen today? Nifty Index may open on negative note, may be wiht gap down opening since, the SGX Nifty is indicating this, the Index may open at 14560-14520-14475 if open, trade and sustain below 14475 then, the Index may re-visit 14445-14420-14390-14350-14320-14295-14265-14250-14220-14160 levels. On the other hand, the immediate resistance seen at 14590-14625 if, trade and sustain above 14625 then, the Index may try to re-test 14660-14695-14735-14785-14820 levels. 

Special Mention: On Friday, the Nifty Index managed to take support at 14560, as expected the pull back rally lifted the Index near 14700 and closed well above 14600, today the Index must move above 14700-14785, further rally above 14785, the pull back rally may continue till 14985-15070 in the near term. On the other hand if, the Index fails to move above 14600-14700 then, the weakeness may drag the Index once again till 14525-14475, below 14475, then the Index may re-visit 14350-14250-14070-13600 very soon. Let us see how the Nifty Index opens at 14560-14525-14475 the Intraday volatility may be high, trade with caution is my advise in this junture.   

Trading Strategy: The followers/readers, try to invest partially at 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