18.05.21 Tuesday, 8.36 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as expected and written, opened on positive note at 14756.25 our expected opening band i.e.,14700-14750, on opening move, it made day low 14725.35, thereafter, the Index moved up throughout the day and made day high 14938 and closed at 14923.15 on positive note with intra gain 245.35 points i.e., 1.67%.

What will happen today? Nifty Index may open on positive note with gap up by tracking the Asian indices at 15050-15105 if open, trade and sustain above 15105 then, the Index may try to re-test 15130-15155-15185-15220-15285 levels. On the other hand, the immediate support lies at 14965-14938, if the Index moves below 14938 then, the Index may re-visit 14890-14855-14825-14805-14775-14750-14725 levels. 

Special Mention: Yesterday, the Nifty Index took support at 14725 and moved up till 14938 and closed weill above 14895, if the Index close above 14965-14985 for three consecutive trading sessions then, the northwards rally may continue till 15220-15336-15431 levels in the near term. On the other hand, if the Index unbale to move above 15110-15150 then any weakness at this levels, may drag the Index till 14968-14890-14750 levels in the near term, let see how the Index opens today at 15045-15105 levels.  

Trading Strategy: The followers/readers, those who invested in Nifty50 stocks near 14650 try to book partial profit near 15050-15200-15330 levels or with the return of 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