02.12.20 Wednesday, 8.36 am

Good Morning followers & readers

What has happened on yesterday? Nifty Index, as expected and written opened on a positive note at 13062.20 our expected opening band i.e., 12975-12990, on opening move it made a high at 13062.20 thereafter, the mild sell-off dragged the Index and made a day low at 12962.80, further the strong upmove lifted once again and made a day high at 13128.40 and closed at 13109.05 with positive note.

What will happen today? Nifty Index may open on a flat to positive note to test 13110-13125-13145 if open, trade and sustain above 13145 then, the Index may test 13175-13210-13240-13275-13310 levels. On the other hand, the immediate support lies at 13090-13040 if, trade and sustain below 13040 then, the Index may try to re-visit 13000-12970-12920-12880-12840-12800-12790 levels.

Special Mention: Yesterday, the Nifty Index moved till 13128.40, unable to surpass the previous all time i.e, 13145.85, though the Nifty Futures surpassed it's all time high and made a high 13168 but, the Nifty Index not able to test 13145 and closed well above 12970, to-day the Index must surpass, sustain and closes above 13146 then 13240-13310-13770 levels are possible in the near term, I was writing this level since Nov'20, when the Nifty Index moved and closed above 12025, stated that the doors were opened for 13310-13770 levels. On the other hand, the weakness now lies only below 12970, if the Index closes below 12970 for three consecutive trading sessions, then it may re-visit 12770-12600-12540 levels in the near term. The Investor/traders must be cautious this month or maximum before second week of Jan'2021, the Nifty Index may witness a correction till 12500-12k, this levels are possible and it is good for the Nifty Index too. The Indian manufacturing PMI for the month of Nov'20 released yesterday, the data reveals that the negative divergence on the manufacturing acitivity, we should see the Services PMI data and RBI policy meet on Friday, are the trend deciders, let us wait and watch this week.

Trading Strategy: The followers/readers, those who invested at 11600-11550 levels, book profit, if the stocks are gives 15-25% return, since 13100-13310 levels are the resistance zone for the Nifty Index and wait for the dips to re-invest at 12700-12400 levels.

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

Further details please do call us on 98410 48022 or contact thro' whatsapp: 99624 70636. Please read carefully, the Disclaimer published on the Disclaimer page.

Wishing you for a safe, secured and profitable trading.