28.01.2020 Tuesday, 8:29 am 

What has happened yesterday? Nifty index as expected and written opened with a gap down on the support levels mentioned i.e 12150, a minor pull back lifted the Index and made a high 12216.60 thereafter, it was unable to surpass above the day high and weakness cum sell-off dragged in late hour till 12107, ended  the day at 12119 with negative bias.

What will happen today? Nifty Index may open on a flat to negative note to test 12100-12087 levels if, trade and sustain below 12087 then, it may go down till 12045-11990-11930 levels. Likewise, the immediate resistance seen at 12150-12190 levels if, trade and sustain above 12190 then, it may test 12220-12270-12320 levels. 

Special Mention: Indian equity market may trade with high volatility due to monthly F&O expiry is approaching and the important event i.e Union budget. Nifty Index may take support at 12085-12045 since, it is the last hope on the downside else, any weakness below 12045 then, the sell-off may drag the Index till 11930-11832 levels in the near term. Further, any up move is possible only, when it is closes above 12150 for three consecutive trading sessions, then it may re-test 12300-12430 levels.

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