Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

Nifty Supports and Resistance for 21st April – 25th April

1 min read

Nifty Movement Analysis:
 
Our Market is expected to open on a weak note despite global sentiment. But this sentiment wont
last long as Positive sentiment overtakes negative sentiment in market movement little bit.
Weakness may prevail on Monday and Thursday.
 
 
Negative Sentiment:
 
50Bps CRR Hike from RBI in two phases which is negative for banking & realty stocks
– Short Selling to be start from APR 21st onwards
– Crude Oil inches to new record high at 116$/barrel
– Nifty is nearing expiry on 24th April
 
Positive Sentiment:
 
– Yen weakens agains dollar and currently trading at 103.68/dollar. So No fresh huge selling from
  FII Investors if not buying.
– FII Investors turned as Net Buyers in last two trading sessions (16,17th APR).
– Surge in I.T PacK as Good results are posted so far
– Reliance and Reliance Pack and Capital Goods will move as the results are ahead will sure act as a catalyst to our market
– US Market rallied last friday as Internet Major Google Poster Strong Q1 numbers. So Asian markets may open with a good positive note.
– Inflation eases a bit to 7.14% vs 7.4% last week.
 
 
Nifty Trading Strategy:


 

Nifty 3 Months Chart

 
As RBI announces CRR rate hike .So by default our market is expected to open in red. Nifty traders are recommended
to take May options as April expiry is nearing. So any downfall is a chance to enter into May Call Options to reap better
profits. Keep a stop loss at 4778 and go for May Call Options. Be cautious on 24th April as expriy is nearing any negative
sentiment may turn the market down. Nifty currently facing strong resistance at 4987 if this resistance break then a sure
target of 5050 and 5200.
 
For Investors :
 
It is right time to enter into stocks as the result expected are more better than the worse. So surely we are head to move upwards
Due to RBI's CRR hike may the market turns volatile Its a great chance to enter. Strong Support come at 4750-4780 level as
nifty consolidates at this level. So every fall is a buying poing. Investors are recommended to stay away from Banking Stocks.
Currently IT stock looks for medium term buy.

also visit to check Last week nifty supports and resistance

 
 
Regards,
Rajandran R
Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

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