28.05.21 Friday, 8.36 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as written and expected, opened on positive note at 15323.95, our expected opening band i.e.,15300-15320-15336, on opening move, it made low 15278 thereafter, the Index moved up till 15364, further the Intra volatility dragged down the Index, made low 15272.50 and moved up once again and made day high at 15384.55 and closed at 15337.85 on positive note with intra gain 36.40 points i.e., 0.24%.

What will happen today? Nifty Index may open on positive note at 15355-15385-15415 if open, trade and sustain above 15415 then, the Index may try to test 15431-15465-15500-15545-15600 levels. On the other hand, the immediate support lies at 15335-15305, if the Index moves below 15305 then, the Index may re-visit 15275-15244-15220-15195-15170-15137-15105-15075-15045 levels. 

Special Mention: Yesterday, the Nifty Index continued its upward move for continuous five trading sessions, made high 15384.55 and closed well above our threshold level 15336, today the Index must surpass and sustain above 15385-15415, if moves above 15415 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 otherhand, if the Index not able to trade and sustain above 15385-15431 then, the weakness may drag the Index till 15336-15275, further weakness below 15275, the index may try to re-visit 15140-15045-14985-14885 in the near term, let see how the Index opens today at 15355-1385-15415 levels. We may expect some technical sell-off cum profit booking near 15400-15431, trade with due caution, the intra volatility may rule the Index today, due to week-end factor, follow the buy on dips strategy and start book profit partially.  

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