04.05.21 Tuesday, 8.39 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as expected and written, opened on negative note with gap down at 14481.05, our expected opening band i.e.,14560-14495, on opening move, it made day low at 14416.25, thereafter, the Index moved up till our resistance level i.e., 14660-14695, made day high 14673.85 and closed at 14634.15 on flat to positive note with marginal intra gain 3.05 points i.e., 0.02%.

What will happen today? Nifty Index may open on flat to positive note at 14645-14675 if open, trade and sustain above 14675 then, the Index may try to re-test 14740-14780-14817-14850-14895-14940 levels. On the other hand, the immediate support lies at 14615-14595, if the Index move below 14595 then, the Index may re-visit 14565-14520-14495-14475-14417-14395-14360-14345-14300-14260 levels. 

Special Mention: Yesterday, the Nifty Index as wrote, opened with gap down, the 5 states assembly election results outcome has given the knee jerk impact, as predicted it was short lived the Nifty Index made low 14416 and bounced back till 14673, today the Index must move above 14675-14750 levels, to continue the pull back rally, if the Index closes above 14675-14695 for three consecutive trading sessions then it may re-test 15045-15200-15330 on the near term. On the other hand if the Index fails to move above 14695-14750 and moves below 14600 then, the Index once again re-visit 14416-14150 in the near term, let see how the Index opens today at 14645-14675 levels..   

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