23.04.21 Friday, 8.36 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as expected and written, opened on negative note at 14219.15, our expected opening band i.e.,14295-14250-14190, on opening move, it made day low 14151.40 thereafter, the Index moved up throughout the day, made day high 14424.75 and closed at 14406.15 on positive  note with intra gain 116.50 points i.e., 0.81%.

What will happen today? Nifty Index may open on  negative note at 14355-14320 if open, trade and sustain below 14320 then, the Index may re-visit 14295-14255-14215-14190-14155-14115-14075-13966 levels. On the other hand, the immediate resistance seen 14395-14425 if, trade and sustain above 14425 then, the Index may try to re-test 14455-14495-14535-14560-14610-14650-14695 levels. 

Special Mention: Yesterday, the Nifty Index opened on gap down and tested our next threshold level i.e., 14160, the Index made low 14151 and bounced back, the pull back rally lifted till 14425 and able to close well above our threshold level i.e., 14350, today the Niifty must hold above 14350-14425, if trades and sustains above 14425, then it may try to re-test 14550-14695 levels in the near tern. On the other hand if, the Index fails to move above 14350-14425 then, the weakeness below 14320-14295, then the Index may re-visit till 14250-14150-14075-13960 very soon. Let us see how the Nifty Index opens at 14350-14320, 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 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