14.12.20 Monday, 8.33 am

Good Morning followers & readers

What has happened on Friday? Nifty Index, as expected and written opened on a positive note at 13512.30, our expected opening band i.e., 13530-13560, on opening move, it made a low 13510.95, thereafter, the Index moved up, made a day high at 13579.35, further the Intra sell-off dragged the Index, made a low 13402.85, the late hour intra short covering lifted the Index once again and closed at 13513.85 on a positive note with Intra gain by 35.55 points i.e., 0.30%.

What will happen today? Nifty Index may open on a flat to positive note to test 13560-13580 if open, trade and sustain above 13580 then, the Index may test 13610-13630-13665-13695-13720-13770 levels. On the other hand, the immediate support lies at 13530-13490 if, trade and sustain below 13490 then, the Index may try to test 13450-13400-13370-13340-13310 levels.

Special Mention: On Friday, the Nifty Index started once again to continue it's northwards journey, it made all time high 13579.35, though the brief sell-off dragged the Index till 13400, it took a strong support near 13400, moved up and closed above 13500. As stated on Friday, the Index was able to surpass above our threshold resistance level i.e., 13560, but failed to close above 13550-13560 levels. Today, the Index must surpass and close above 13560-13600 levels, then the Index may test 13770 by this week itself, mark my word, if the Index closes above 13770 for three consecutive trading sessions coupled with weekly close, could test 15k either by Jan'21 or before Mar'21, but there must be a brief intermediate correction till 12790-12600 is necessary; before it test 15k mark. On the other hand, the weakness now lies only below 13400-13310, if the Index closes below 13310 for three consecutive trading sessions, then it may re-visit 13145-12770-12610 levels in the near term, let see how it opens today near 13560-13580 levels. 

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, 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 to test 15k levels,  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 13560-13770 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

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.