17.12.20 Thursday, 8.36 am

Good Morning followers & readers

What has happened on yesterday? Nifty Index, as expected and written opened on a positive note with gap up at 13663.10, our expected opening band i.e., 13610-13630, on opening move, it made a high 13663.10, thereafter, the Index moved down, made a day low at 13606.45, our support band i.e., 13590-13550, further the Index took support at 13606 and moved up, made a day high 13692.35, our next level resistance 13695 and closed at 13682.70 on positive note with Intra gain by 114.85 points i.e., 0.85%.

What will happen today? Nifty Index may open on flat to positive note to test 13690-13712 if open, trade and sustain above 13712 then, the Index may test 13720-13745-13770-13800-13830 levels. On the other hand, the immediate support lies at 13660-13630 if, trade and sustain below 13630 then, the Index may try to test 13605-13585-13570-13540-13505-13450-13405 levels.

Special Mention: Yesterday, the Nifty Index continued it's northwards journey, made further all time high at 13692.35 and closed well above 13660 levels. Today, the Index must surpass 13700-13712 levels, if trades and sustain above 13712, then the ultimate target i.e., 13770 is reachable today or by tomorrow, let see how it opens near 13690-13712. On other hand, any weakness at 13695-13712, then the Index may be dragged till 13610-13560 levels, further weakness below 13560, then 13400 may act as a good support. 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. The weekly option expiry falls today and tomorrow's week-end factor, may rise the intra 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.