26.05.21 Wednesday, 8.36 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as written and expected, opened on positive note at 15291.75, our expected opening band i.e.,15255-15285-15310, on opening move, it made day high 15293.85 thereafter, the Index moved down throughout the day and made day low at 15163.40 and closed at 15208.45 on positive note with marginal intra gain 10.75 points i.e., 0.07%.

What will happen today? Nifty Index may open on positive note at 15225-15255-15295 if open, trade and sustain above 15295 then, the Index may try to test 15335-15360-15385-15431-15470 levels. On the other hand, the immediate support lies at 15205-15165-15135, if the Index moves below 15135 then, the Index may re-visit 15115-15080-15045-14985-14935 levels. 

Special Mention: Yesterday, the Nifty Index continued its upward move till 15293, further the Index as written yesterday, witnessed a brief technical sell-off till 15163 and closed well above 15190, today the Index must hold 15175-15135 and it moves above 15255-15295-15335 then the Index may re-test the all time high level i.e., 15431, further move above 15431, then the Index may test 15600-15780 levels in the near term. On the other hand, if the Index not able to sustain near 15255-15295 then, the weakness may drag the Index till 15135-15045, further weakness below 15045, the index may try to re-visit 14985-14885 very soon, let see how the Index opens today at 15255-15255-15295 levels. The intra volatility may be high today and tomorrow 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 15260-15330-15430 levels or with the return of 10-15%. 

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