14.05.21 Friday, 8.39 am

Good Morning followers & readers 

What has happened on Wednesday? Nifty Index, as expected and written, opened on negative note at 14823.55, our expected opening band i.e.,14855-14810, on opening move, it made day high 14824.05, thereafter, the Index moved down throughtout the day and made day low till 14649.50 and closed at 14696.50 on negative note with intra loss -154.25 points i.e., -1.04%.

What will happen today? Nifty Index may open on flat to negative note at 14695-14650 if open, trade and sustain below 14650 then, the Index may try to re-visit 14605-14550-14505-14460-14416-14385-14360 levels. On the other hand, the immediate resistance seen at 14715-14740, if the Index moves above 14740 then, the Index may re-test 14775-14805-14825-14860-14900-14940-14970 levels. 

Special Mention: On Wednesday, the Nifty Index continued the sell-off till our second threshold support level i.e., 14695, though it violated below 14695 till 14649 but able to close above 14695, today, if the Index moves below 14650-14605 then it may try to re-visit 14500-14415-14360-14260-14150 levels in the near term. On the other hand, if the Index moves and sustain above 14695-14770 then the pull back rally may lift the Index till 14825-14900-14970-15050 in the near term, let see how the Index opens today at 14695-14650 levels. The Intra volatility may rulde the index today, due to the week-end factor, trade with caution aviod aggressive long position, is my advise at this juncture. 

Trading Strategy: The followers/readers, those who want to take risk then invest partially near 14650-14500 levels in Nifty50 stocks for short to medium term perspective to gain 5-10%. 

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