28.12.20 Monday, 8.36 am

Good Morning followers & readers

What has happened on Thursday? Nifty Index, as expected and written opened on a positive note at 13672.15, our expected opening band i.e.,13640-13670, on opening move, it made a low 13654, thereafter, the Index moved up till our resistance levels i.e, 13735, further the mild intra sell-off once again dragged and made a day low 13626.90, the intra volatility lifted the Index further to our threshold levels i.e., 13770, made a day high 13771.75 and closed at 13749.25 on a positive note with Intra gain by 148.15 points i.e., 1.09%.

What will happen today? Nifty Index may open on a positive note to test 13770-13790-13810 if open, trade and sustain above 13810 then, the Index may test 13840-13865-13900-13955 levels. On the other hand, the immediate support lies at 13730-13700 if, trade and sustain below 13700 then, the Index may try to test 13680-13661-13642-13627-13588-13530-13500-13450 levels.

Special Mention: On Thursday, the Nifty Index continued its pull back rally for the third straight trading sessions, tested once again our threshold levels i.e., 13770 but, unable to close above 13770, it looks today the Index may surpass 13770-13810, if the Index moves above 13770-13810 then, it may test 13865-13950 levels soon, further any close above 13777 for three consecutive trading sessions then, the Index may test 14k-15k in the near term. On the other hand, any weakness now lies at 13630-13580 levels, further any close below 13580, 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 13770-13810 levels. The intraday volatility may rise  this week due to the F&O expiry, month-end and year-end factors, may add the fuel into the intra volatility, trade with caution is my advise at this juncture.

Trading Strategy: The followers/readers, those who invested 13150 level, start the profit booking at 13770-13860-13950-14040 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.