08.12.20 Tuesday, 8.39 am

Good Morning followers & readers

What has happened on yesterday? Nifty Index, as expected and written opened with flat note at 13264.85, our expected opening band i.e., 13240-13200, on opening move, it made a day low at 13241.95 thereafter, the Index moved up  till 13350, the mild intra weakness dragged down but, finally the last hour pull back lifted the Index, made a day high 13366.65 and closed at 13355.75 on a positive bias with Intra gain by 97.20 points i.e., 0.73%.

What will happen today? Nifty Index may open on a flat to positive note to test 13350-13395 if open, trade and sustain above 13395 then, the Index may test 13430-13485-13505-13565 levels. On the other hand, the immediate support lies at 13330-13290 if, trade and sustain below 13290 then, the Index may try to test 13240-13205-13170-13145-13105 levels.

Special Mention: Yesterday, the Nifty Index continued it's northwards journey, broken our threshold resistance levels i.e., 13310-13325, made a new record all time high at 13366.65 and closed well above 13146, being the second trading session, the Index closed above 13146, further close above this level today and weekly basis, then the Index as written earlier may test 13770 very soon. I was writing this levels since Nov'20, when the Nifty Index moved and closed above 12025, stated that the doors are opened for 13310-13770 levels, the first high level target 13310 reached yesterday, it looks either this week or before second week the Index could test next important resistance levels 13560-13770. On the other hand, the weakness now lies only below 13145, if the Index closes below 13145 for three consecutive trading sessions, then it may re-visit 12770-12610-12540 levels in the near term, let see how it opens today. The Investor/traders must be cautious this month or maximum before second week of Jan'2021, the Nifty Index may witness a correction till 12770-12500-12000, this levels are possible, further any correction, that will be very quick, as well very sharp down move one, also it is good for the Nifty Index to consolidate and continue the bull run further beyond 13770,  post January 2021. 

Trading Strategy: The followers/readers, those who invested at 11600-11550 levels, book profit, if the stocks are gives 20-30% return, since 13310-13770 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

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Wishing you for a safe, secured and profitable trading.