19.05.21 Wednesday, 8.33 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as expected and written, opened on positive note with gap up at 15067.20 our expected opening band i.e.,15050-15105, on opening move, it made day low 15043.70 thereafter, the Index moved up and made day high at 15137.25, closed at 15108.10 on positive note with intra gain 184.95 points i.e., 1.24%.

What will happen today? Nifty Index may open on flat to negative note at 15075-15045 if open, trade and sustain below 15045 then, the Index may try to re-visit 15020-14980-14965-14938-14905-14865-14830-14800 levels. On the other hand, the immediate resistance seen at 15117-15137, if the Index moves above 15137 then, the Index may re-test 15165-15185-15210-15255-15295-15335 levels. 

Special Mention: Yesterday, the Nifty Index continued the northward rally above 15045 and tested 15137.25 and able to close above 15045-15105, today if the Index able to move above 15140-15175 then it may try to re-test 15220-15336-15431 levels in the near term. On the other hand, if the Index unable to move above 15105-15175 then any weakness below 15045 levels, may drag the Index till 14968-14815-14750 levels in the near term, let see how the Index opens today at 15075-15045 levels, the intra volatility may be high today and tomorrow due to option weekly expiry, trade with due caution is may advise at this juncture.  

Trading Strategy: The followers/readers, those who invested in Nifty50 stocks near 14650 try to book partial profit near 15050-15150-15330 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