15.12.20 Tuesday, 8.36 am

Good Morning followers & readers

What has happened on yesterday? Nifty Index, as expected and written opened on a positive note at 13571.45, our expected opening band i.e., 13560-13580, on opening move, it made a day high 13597.50, thereafter, the Index moved down, made a day low at 13472.45, our support band i.e., 13530-13490, further the Index took support at 13490 and moved till the day high and closed at 13558.15 on a positive note with Intra gain by 44.30 points i.e., 0.33%.

What will happen today? Nifty Index may open on a flat note to test 13560-13595 if open, trade and sustain above 13595 then, the Index may test 13610-13630-13665-13695-13720-13770 levels. On the other hand, the immediate support lies at 13520-13475 if, trade and sustain below 13475 then, the Index may try to test 13440-13410-13370-13340-13310-13290 levels.

Special Mention: Yesterday, the Nifty Index continued it's northwards journey, it made all time high 13597.50, though the brief sell-off dragged the Index till 13472, but it took a strong support near 13490, moved up once again and closed above 13550 levels. Today, the Index must surpass and close above 13610-13630 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 13490-13400, if the Index closes below 13400 for three consecutive trading sessions, then it may re-visit 13145-12790 levels in the near term. It looks the Nifty Index may consolidate between 13400-13600 for couple of days, before it test 13770, let see how it opens today near 13560-13595 levels, the intraday volatility also may rise, already the India Vix trading at positive bias, trade with due caution and avoid aggressive long position in F&O segment, at this juncture.

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

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Wishing you for a safe, secured and profitable trading.