29.04.21 Thursday, 8.39 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as expected and written, opened on positive note at 14710.50, our expected opening band i.e.,14695-14715, on opening move, it made low at 14694.95, thereafter, the Index moved up throughout the day beyond our resistance levels i.e., 14865, made day high 14890.25 and closed at 14864.45 on positive note with intra gain 211.50 points i.e., 1.44%.

What will happen today? Nifty Index may open on positive note at 14918-14940-14985 if open, trade and sustain above 14985  then, the Index may test 15020-15055-15080-15105-15165 levels. On the other hand, the immediate support lies at 14890-14840 if, trade and sustain below 14840 then, the Index may try to re-visit 14805-14770-14740-14700-14670-14635-14620 levels. 

Special Mention: Yesterday, the Nifty Index continued the pull back rally for four consecutive trading sessions, moved till 14890 and able to close above 14695, if the Index closes above 14695 today and tomorrow, then, the Index may re-test 15200-15335 very soon. On the other hand if, the Index fails to move above 14985 then, the weakness may drag the Index till 14695, further sell-off below 14695, then it may re-visit till 14560-14425 levels in the near term. As mentioned yesterday, the F&O Expiry may be between 14820-15000 levels, let us see how the Nifty Index opens at 14918-14940-14985, the Intraday volatility may be high today and tomorrow, due to F&O Expiry and tomorrow's week-end cum month-end factor, trade with caution an avoid aggressive long position, there may be a brief correction may expect till 14695. either this week or next week.   

Trading Strategy: The followers/readers, those who invest near 14200-14150 levels, start book profit when Nifty reaches 14950-15050-15200 levels or the stocks given profit 5-10% and wait for further correction. 

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