24.12.20 Thursday, 8.33 am

Good Morning followers & readers

What has happened on yesterday? Nifty Index, as expected and written opened on a positive note at 13473.50, our expected opening band i.e.,13460-13500, on opening move, it made a day low 13432.20, thereafter, the Index moved up throughout the day till our further resistance levels i.e, 13600-13640, made a day high 13619.45 and closed at 13601.10 on a positive note with Intra gain by 134.80 points i.e., 1%.

What will happen today? Nifty Index may open on a positive note to test 13640-13670 if open, trade and sustain above 13670 then, the Index may test 13705-13735-13770-13820 levels. On the other hand, the immediate support lies at 13610-13580 if, trade and sustain below 13580 then, the Index may try to test 13550-13525-13495-13475-13440-13385 levels.

Special Mention: Yesterday, the Nifty Index continued its pull back rally for the second trading sessions, tested till 13619.45, today if the Index moves above 13640-13670 then, it may re-test 13777, further any close above 13777 for three consecutive trading sessons then, the Index may test 14k-15k very soon. On the other hand, any weakness now lies at 13580-13520 levels, further any close below 13580-13520, for three consecutive trading sessions then, the Index may re-visit 13450-13320-13200-13131 levels very soon. Let see how it opens today near 13640-13670 levels. The intraday volatility may rise today, 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 level, watch to book partial profit booking at 13640-13700 levels, when the Nifty Index trading in that levels and wait for further dips to invest at 13140-12840 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.