26.04.21 Monday, 8.39 am

Good Morning followers & readers 

What has happened on Friday? Nifty Index, as expected and written, opened on negative note at 14326.35, our expected opening band i.e.,14335-14320, on opening move, it made low near 14320  thereafter, the Index moved up till our resistance level near 14455, made a day high 14461.15, further weakness dragged the Index once again, made day low 14273.30 and closed at 14341.35 on negative note with intra loss -64.80 points i.e., -0.45%.

What will happen today? Nifty Index may open on positive note at 14425-14460 if open, trade and sustain above 14460 then, the Index may re-visit 14490-14515-14540-14570-14600-14635-14695 levels. On the other hand, the immediate support lies at 14405-14360 if, trade and sustain below 14360 then, the Index may try to re-visit 14340-14320-14275-14225-14190-14150-14110-14070 levels. 

Special Mention: On Friday, the Nifty Index surpassed above 14425 and made day high at 14461.15, but unable to sustain and close above 14425, it was closed well below 14350, today the Nifty must hold above 14425-14460, if trades and sustains above 14460, then it may try to re-test 14550-14695 levels in the near term. On the other hand if, the Index fails to move above 14425-14460 then, the weakeness below 14425, may drag the Index to re-visit till 14360-14315-14275-14220-14150-14070 very soon. Let us see how the Nifty Index opens at 14425-14460, the Intraday volatility may be high this week, due to F&O Expiry and more Corporate results are awaited.   

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