21.12.20 Monday, 8.41 am

Good Morning followers & readers

What has happened on Friday? Nifty Index, as expected and written opened flat to positive note at 13764.40, our expected opening band i.e., 13750-13770, on opening move, it made a day high 13768.50, thereafter, the Index moved down till our Intra support levels i.e, 13650, made a day low 13658.60, further it moved up once again till 13770 and closed at 13760.55 on flat to positive note with Intra gain by 19.85 points i.e., 0.14%.

What will happen today? Nifty Index may open on flat to positive note to test 13727-13700 if open, trade and sustain below 13700 then, the Index may test 13675-13640-13600-13570-13545-13525 levels. On the other hand, the immediate resistance seen at 13770-13805 if, trade and sustain above 13805 then, the Index may try to test 13830-13875-13895-13910 levels.

Special Mention: On Friday, the Nifty Index unable to continue it's northwards journey as well unable to surpass and close above the threshold resistance levels i.e., 13770. Today, the Index must surpass 13770-13830, if trades and sustain above 13830, then the Index may test 13900-14040 levels in the near term, let see how it opens and trade near 13727-13700, any weakness below 13700, then it may be dragged till 13660-13570 levels, further weakness below 13570, then 13450-13400 may act as a good support. It looks the Nifty Index may consolidate some more days between 13800-13590, to take further direction on the either side, further a brief intermediate correction till 13400-13145 is necessary; before it test test 14k-15k mark. The Santa claus rally already happened this year very early across the global markets, hence there may be a profit booking also possible, mostly in December the Indian stock market may trade in sub-dued movement, without much of volume, even to test any higher levels, it will trade with a gap up's, I am witnessing this since 2005 and difficult to predict the trend reversal, the clear trend may emerge from Jan'2021, let us wait and watch.

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.