Nifty Call: Go above 14,500 with a fixed stop-loss

The Sensex and Nifty 50 started the session some in the negative country and jumped early. But they failed to establish themselves in a positive country. Benchmark indices saw interest selling in a negative country.

Asian markets show mixed references. The Nikkei 225 is trading positively at 29,642, while the Hong Cheng index is down 0.6% at 28,737 in today’s session. China’s CSI 300 index was down 0.76% at 4,942.

On the domestic front, the Sensex and Nifty 50 each fell 0.6%. The market width of the Nifty 50 is trending towards the fall. The Indian VIX index was high at 3.7% to 21.2 levels. Both the Nifty Mid and Small-Cap indices are down 0.45% and 0.6%, respectively.

The Nifty Auto and PSU Bank Indices fell 2% and 1.7%, respectively. The Nifty Pharma and Metal indices are the only ones to feature in the positive area, gaining 1.1% and 0.5% respectively.
The Nifty opened its futures session in April on a positive note, opening at 14,574 against the previous high of 14,541. After recording a high of 14,615, the contract began to down on the back of interest sales.

The deal fell below the key base level of 14,500 and fell to 14,374. The contract is down 0.6% at 14,455 levels. As long as the deal trades below 14,500, the near-term position will remain rough. It currently ranges from 14,430 to 14,480

A rally above 14,480 could increase the deal to test major difficulty to 14,500. A rally deal beyond 14,500 could be raised to 14,540 and then to 14,560. Conversely, if the contract falls below 14,430, it could pull the deal to 14,400 and then to 14,375 levels. Traders can go a long way with a fixed stop loss at a rally above 14,500.

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