24.05.21 Monday, 8.36 am

Good Morning followers & readers 

What has happened on Friday? Nifty Index, as expected and written, opened on flat note at 14987.80, our expected opening band i.e.,14980-15045, on opening move, it made day low 14985.85 thereafter, the Index moved up throughout the day and made day high at 15190 and closed at 15175.30 on positive note with intra gain 269.25 points i.e., 1.81%.

What will happen today? Nifty Index may open on flat note at 15175-15155-15135 if open, trade and sustain below 15100 then, the Index may try to re-visit 15075-15045-15005-14985-14955-14930-14885 levels. On the other hand, the immediate resistance seen at 15190-15205-15220, if the Index moves above 15220 then, the Index may re-test 15245-15265-15285-15335-15395-15431 levels. 

Special Mention: On Friday, the Nifty Index took support near 14985 and given a clear breakout above 15137 and made day high at 15190, further the Index closed well above 15140, today the Index may take support 15100-15045 levels, if any weakness below 15045 then it may try to re-visit 14900-14600 very soon. On the other hand, if the Index able to close above 15135-15200 for three consecutive trading sessions, then the Index re-test the all time high 15431, then above 15431, may take the Nifty Index to 15600-15780 levels in the near term, let see how the Index opens today at 15175-15155-15135 levels, the intra volatility may be high this week due to F&O expiry, follow the buy on dips strategy.  

Trading Strategy: The followers/readers, those who invested in Nifty50 stocks near 14650 try to book partial profit near 15150-15330-15430 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

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