16.12.20 Wednesday, 8.33 am

Good Morning followers & readers

What has happened on yesterday? Nifty Index, as expected and written opened on a flate note at 13547.20, our expected opening band i.e., 13560-13595, on opening move, it made a high 13547.20, thereafter, the Index moved down, made a day low at 13447.05, our support level i.e., 13440, further the Index took support at 13447 and moved up, made a day high 13589.65 and closed at 13567.85 on flat to positive note with Intra gain by 9.70 points i.e., 0.07%.

What will happen today? Nifty Index may open on a positive note with mild gap up to test 13610-13630 if open, trade and sustain above 13630 then, the Index may test 13665-13695-13720-13770 levels. On the other hand, the immediate support lies at 13590-13550 if, trade and sustain below 13550 then, the Index may try to test 13500-13450-13400-13370 levels.

Special Mention: Yesterday, the Nifty Index unable to continue it's northwards journey, as expected the consolidation dragged the Index till 13447, but it took a god support, bounced back to 13590 levels and closed well above 13560 levels. Today, the Index may surpass above 13610-13630 levels, if the Index close above 13610-13660 today and tomorrow, then the Index may test 13770 by this week or by next week. 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 13500-13450-13400, if the Index closes below 13400 for three consecutive trading sessions, then it may re-visit 13145-12790 levels in the near term, let see how it opens today near 13610-13630 levels, the weekly option expiry falls tomorrow and Friday's week-end factor, may rise the volatility, trade with due caution is my advise, 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

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.