05.05.21 Wednesday, 8.36 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as expected and written, opened on positive note at 14687.25, our expected opening band i.e.,14645-14675, on opening move, it made day high 14723.40, thereafter, the Index moved down till our support level i.e., 14475, made day low 14461.50 and closed at 14496.50 on negative note with intra loss 137.65 points i.e., -0.94%.

What will happen today? Nifty Index may open on positive note at 14530-14560 if open, trade and sustain above 14560 then, the Index may try to re-test 14595-14620-14645-14673-14695-14720-14765-14795-14815 levels. On the other hand, the immediate support lies at 14495-14460, if the Index moves below 14460 then, the Index may re-visit 14450-14417-14390-14360-14345-14300-14260-14210-14150 levels. 

Special Mention: Yesterday, the Nifty Index though it moved above 14673 and made day high 14723, but unable to sustain above 14675-14695, the weakness once again dragged till 14460, today the Index must move above 14600-14675-14695 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 14600-14675-14695 and moves below 14460 then, the Index once again re-visit 14416-14150 in the near term, let see how the Index opens today at 14645-14675 levels. The Intra volatility may be high due to tomorrow's weekly option expiry, trade with due caution, the intra swing may expect 200-300 points.  

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

Further details please do call us on 98410 48022 or contact thro' whatsapp: 99624 70636. Please read carefully, the Disclaimer published in the Disclaimer page.

Wishing you for a safe, secured and profitable trading