18.12.20 Friday, 8.33 am

Good Morning followers & readers

What has happened on yesterday? Nifty Index, as expected and written opened flat to positive note at 13713.55, our expected opening band i.e., 13690-13712, on opening move, it made a day low 13673.55, thereafter, the Index moved up throughout the day till our threshold target levels i.e, 13770, made a day high 13773.25 and closed at 13740.60 on positive note with Intra gain by 58 points i.e., 0.42%.

What will happen today? Nifty Index may open on flat to positive note to test 13750-13770 if open, trade and sustain above 13770 then, the Index may test 13800-13835-13870-13900-13950 levels. On the other hand, the immediate support lies at 13725-13700 if, trade and sustain below 13700 then, the Index may try to test 13675-13650-13600-13570-13545 levels.

Special Mention: Yesterday, the Nifty Index continued it's northwards journey, made our much awaited threshold all time target levels i.e., 13770. Today, the Index must surpass 13770-13800, if trades and sustain above 13800, then the Index may test 13900-14000 levels in the near term, let see how it opens near 13750-13770. On the other hand, any weakness at 13725-13690, then the Index may be dragged till 13610-13540 levels, further weakness below 13540, then 13400 may act as a good support. It looks the Nifty Index may continue its upward momentum for some more days but, it should surpass and closes above 13770-13800, then it may test till 15k, mark my word, if the Index closes above 13770 for three consecutive trading sessions coupled with weekly close, could test 14k-15k either by this month itself or Jan'21, but there must be a brief intermediate correction till 13150-12790 is necessary; before it test 15k mark. Today'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, before January 2021. 

Trading Strategy: The followers/readers, those who invested at 11600-11550 levels, book profit, since 13770-13800 are the resistance zone for the Nifty Index and wait for the dips to re-invest at 13150-12800 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.