28.04.21 Wednesday, 8.36 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, contrary to our expectation, opened on positive note at 14493.80, our expected opening band i.e.,14475-14460, on opening move, it made low at 14484.85,  thereafter, the Index moved up throughout the day till our resistance levels i.e., 14640-14695, made day high 14667.55 and closed at 14653.05 on positive note with intra gain 168.05 points i.e., 1.16%.

What will happen today? Nifty Index may open on positive note at 14675-14695-14715 if open, trade and sustain above 14715 then, the Index may re-test 14745-14790-14820-14865 levels. On the other hand, the immediate support lies at 14660-14630 if, trade and sustain below 14630 then, the Index may try to re-visit 14600-14560-14525-14485-14455-14420 levels. 

Special Mention: Yesterday, the Nifty Index continued the pull back rally above 14560 and made day high at 14667 and able to close above 14560, today the Nifty must hold above 14695-14715, if close above 14695 for three consecutive trading sessions then, the Index may re-test 14820-14985 very soon. On the other hand if, the Index fails to move above 14695-14715 then, the weakness below 14660, may drag the Index to re-visit till 14560-14420 levels in the near term. It looks the F&O Expiry may be between 14660-14820, let us see how the Nifty Index opens at 14695-14715, the Intraday volatility may be high today and tomorrow, due to F&O Expiry.   

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