30.12.20 Wednesday, 8.36 am

Good Morning followers & readers

What has happened yesterday? Nifty Index, as expected and written opened on a positive note at 13910.35, our expected opening band i.e.,13905-13955, on opening move, it made a  day high 13967.60, thereafter, the Intra sell-off dragged the Index till our support band i.e.,13885-13840, made a day low 13859.90, the intra volatility once again lifted the Index till the day high and  closed at 13932.60 on a positive note with Intra gain by 59.40 points i.e., 0.43%.

What will happen today? Nifty Index may open on a positive note to test 13955-13967 if open, trade and sustain above 13967 then, the Index may test 13995-14025-14045-14095 levels. On the other hand, the immediate support lies at 13900-13860 if, trade and sustain below 13860 then, the Index may try to test 13820-13795-13770-13730-13705-13666-13625 levels.

Special Mention: Yesterday, the Nifty Index continued its northward journey once again to test 14-15k mark, it moved beyond 13900 and almost reached near 14k, made a record all time high 13967.60, as well closed above our threshold level i.e., above 13770 for the second trading session, as i written earlier, further close above 13770, today with weekly close then, the Index may test 14300-15000 very soon. On the other hand, any weakness now lies at 13770, further any close below 13770 for three consecutive trading sessions then, the Index may re-visit 13600-13450-13320-13131 levels in the near term. Let see how it opens today near 13955-13967 levels. The US stimulus package, the covid-19 relief package has increased to $600 to $2000 is set to voting to-night, hence more optimsm seen in the emerging markets, since, they may get some more funds flow in to their equity market, India is also one of the destination, the FPI inflow may continue for some more time, so this will take the Indian stock market to the new peaks till this month-end, even it may continue till mid of Jan'2021. My ultimate Target for Sensex is 50k and Nifty 15k, it is intact, unless any weakness or reversal with negative news comes to drag the global stock market. The intraday volatility may rise this week due to the F&O expiry, month-end and year-end factors, the volumes are dried-up and some fatigue sign seen in the Index movement, brief profit booking till 13800-13770 is possible in the near term, trade with caution at the higher levels, is my advise at this juncture.

Trading Strategy: The followers/readers, those who invested 13150 level, start the profit booking at 14k-14300 levels, when the Nifty Index trading in that levels and wait for further dips to invest at 13350-13140 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.