06.05.21 Thursday, 8.39 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as expected and written, opened on positive note at 14604.15, our expected opening band i.e.,14530-14560, on opening move, it took support near our support level i.e., 14495, made day low 14506.60 thereafter, the Index moved up till our resistance level i.e., 14645, made day high 14667.90 and closed at 14617.85 on positive note with intra gain 121.35 points i.e., 0.84%.

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 14695-14720-14765-14795-14815-14860-14910 levels. On the other hand, the immediate support lies at 14620-14595, if the Index moves below 14595 then, the Index may re-visit 14555-14540-14506-14465-14445-14417-14390-14360 levels. 

Special Mention: Yesterday, the Nifty Index traded with inside day formation, either not broken the previous day high (14723.40) or not broken the previous day low (14461.50), the indeceiveness prevailed in the Nifty Index move, today the Index must move above 14723, to continue the pull back raly till 14820-14985-15050 levels. The Index closes above 14675-14695 for three consecutive trading sessions then it may re-test 15045-15200-15330 in the near term. On the other hand if the Index fails to move above 14723 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 weekly option expiry and tomorrow's week-end factor, trade with due caution.  

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