23.12.20 Wednesday, 8.36 am

Good Morning followers & readers

What has happened on yesterday? Nifty Index, as expected and written opened on a positive note at 13373.65, our expected opening band i.e.,13400-13430, on opening move, it made a high 13446.75, thereafter, the Index moved down and made a low till 13192.90, further the strong pull back lifted the Index till 13492.05 and closed at 13466.30 on a positive note with Intra gain by 137.90 points i.e., 1.03%.

What will happen today? Nifty Index may open on flat to positive note to test 13460-13500 if open, trade and sustain above 13500 then, the Index may test 13535-13570-13600-13640-13670-13705 levels. On the other hand, the immediate support lies at 13405-13380 if, trade and sustain below 13380 then, the Index may try to test 13335-13305-13260-13210-13175-13140 levels.

Special Mention: Yesterday, the Nifty Index as written and expected not broken the panic bottom made on Monday and moved till 13492, now the Nifty Index should cross 13535-13550, then it may test 13600-13660-13700, else the weakness at 13490-13535 levels once again drag the Index till 13400-13190-13131 levels. Watch 13131 and 13777 range. further direction is possible only when the Index breaking either side of these ranges, may pave the way to test the further levels, if the Index breaks and closes below 13131 for three consecutive trading sessions, then it may re-test 12840-12790-12450 levels. On the other hand if breaks and closes above 13777 then, it may test 14k-15k levels. Let see how it opens today near 13450-13500 levels. The intraday volatility may rise today and tomorrow due to option weekly expiry & long week end, trade with caution is my advise at this juncture.

Trading Strategy: The followers/readers, those who invested 13150, watch to book partial profit booking at 13500-13650 levels, when the Nifty Index trading in that levels and wait for dips to invest at 12840-12500 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.