22.04.21 Thursday, 8.36 am

Good Morning followers & readers 

What has happened on Tuesday? Nifty Index, as expected and written, opened on positive note at 14526.70, our expected opening band i.e.,14385-14415, on opening move, it made day high 14526.95 thereafter, the Index moved down, made day low 14207.30 and closed at 14296.40 on negative note with intra loss -63.05 points i.e., -0.44%.

What will happen today? Nifty Index may open on flat to negative note at 14295-14250-14190 if open, trade and sustain below 14190 then, the Index may re-visit 14160-14120-14070-14030-13966 levels. On the other hand, the immediate resistance seen 14285-14320 if, trade and sustain above 14320 then, the Index may try to re-test 14380-14420-14470-14525-14570-14610-14650-14695 levels. 

Special Mention: On Tuesday, though the Nifty Index opened on gap up and made day high 14526, but unable to sustain above 14500, the weakeness cum profit booking dragged the Index again till 14207 and unable to close above our threshold level i.e., 14350, closed well below 14350, today the Niifty must hold above 14200-14250, if it trades and sustains above 14250, then it may try to re-test 14295-14350 levels, further rally above 14350 then, it may test again 14470-14530-14695 in the near tern. On the other hand if, the Index fails to move above 14250-14350 then, the weakeness below 14190 and any close below 14190,  then the Index may re-visit till 14070-13960-13600 very soon. Let us see how the Nifty Index opens at 14295-14250-14190, 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 at 14200-14070-13960 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