20.04.21 Tuesday, 8.39 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as expected and written, opened on negative note wiith gap down at 14306.60, our expected opening band i.e.,14560-14520-14475, on opening move, it made day low 14191.40 thereafter, the Index moved up, made day high 14382.30 and closed at 14359.45 on negative note with intra loss -258.40 points i.e., -1.77%.

What will happen today? Nifty Index may open on flat to positive note at 14385-14415 if open, trade and sustain above 14415 then, the Index may re-test 14445-14475-14500-14559-14590-14620-14640 levels. On the other hand, the immediate support lies at 14350-14300 if, trade and sustain below 14300 then, the Index may try to re-visit 14265-14235-14215-14190-14160-14125-14070 levels. 

Special Mention: Yesterday, the Covid19 latest development, dragged the Nifty Index till 14191 and managed to take support at 14200 and able to close well above 14350, today the Index must move above  14385-14415-14445, further rally above 14445, the pull back rally may continue till 14550-14640-14700 in the near term. On the other hand if, the Index fails to move above 14415-14445 then, the weakeness may drag the Index once again till 14350-14250-14191, below 14191, then the Index may re-visit 14070-13600 very soon. Let us see how the Nifty Index opens at 14385-14415, the Intraday volatility may be high, due to tomorrow's trading holiday on account of Ram Navami,  trade with caution is my advise in this junture.   

Trading Strategy: The followers/readers, try to invest partially at 14200-14070 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