27.04.21 Tuesday, 8.39 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as expected and written, opened on positive note at 14449.45, our expected opening band i.e.,14425-14460, on opening move, it made low at 14421.30, which was our support level i.e.,14425, thereafter, the Index moved up till our resistance levels i.e., 14540-14570, made a day high 14557.50, further weakness dragged the Index once again  and closed at 14485 on positive note with intra gain 143.65 points i.e., 1%.

What will happen today? Nifty Index may open on flat to negative note at 14475-14450 if open, trade and sustain below 14450 then, the Index may re-visit 14420-14390-14365-14340-14310-14275-14225-14190-14151 levels. On the other hand, the immediate resistance seen at 14515-14555 if, trade and sustain above 14555 then, the Index may try to re-test 14590-14620-14640-14695  levels. 

Special Mention: Yesterday, the Nifty Index continued the pull back rally above 14425 and made day high at 14557 and able to close above 14460, today the Nifty must hold above 14425-14460, if trades and sustain above 14460, then it may try to re-test 14555-14695 levels in the near term. On the other hand if, the Index fails to move above 14420-14460 then, the weakeness below 14420, 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 14475-14450, 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