10.05.21 Monday, 8.36 am

Good Morning followers & readers 

What has happened on Friday? Nifty Index, as expected and written, opened on positive note at 14816.85, our expected opening band i.e.,14775-14815, on opening move, it faced a hurdle near resistance level i.e., 14855-14885, made day high 14863.05 thereafter, the Index moved down, made day low 14765.50, further it moved near day high and closed at 14823.15 on positive note with intra gain 98.35 points i.e., 0.67%.

What will happen today? Nifty Index may open on positive note at 14890-14945 if open, trade and sustain above 14945 then, the Index may try to re-test 14985-15015-15045-15075-15105-15155 levels. On the other hand, the immediate support lies at 14865-14815, if the Index moves below 14815 then, the Index may re-visit 14765-14735-14700-14660-14610-14550 levels. 

Special Mention: On Friday, the Nifty Index continued the pull back rally till 14863, further the Index able to close above 14695-14725 for the second trading session, if the Index able to close above 14865-14985 today, then the Index may re-test 15045-15200-15330 very soon. On the other hand if the Index fails to move above 14985 and moves below 14863-14810 then, the Index once again re-visit 14695-14415 in the near term, let see how the Index opens today at 14890-14945 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