31.12.20 Thursday, 8.42 am

Good Morning followers & readers

What has happened yesterday? Nifty Index, as expected and written opened on a positive note at 13980.90, our expected opening band i.e.,13955-13967, on opening move, it made a open & high, as same at 13980.90, thereafter, the Intra sell-off dragged the Index till our support band i.e.,13900-13860, made a day low 13864.95, the intra volatility once again lifted the Index from noon session, broken 13980, made a day high 13997 and closed at 13981.95 on a positive note with Intra gain by 49.35 points i.e., 0.35%.

What will happen today? Nifty Index may open on a flat note to test 13980-13955 if open, trade and sustain below 13955 then, the Index may test 13925-13900-13865-13810-13770-13740-13715 levels. On the other hand, the immediate resistance seen at 13995-14030 if, trade and sustain above 14030 then, the Index may try to test 14075-14100-14140-14175 levels.

Special Mention: Yesterday, the Nifty Index continued its northward journey further to test 14k mark, it moved up near  to this level, made a record all time high 13997, as well closed above our threshold level i.e., above 13770 for the thrid trading session, as i written earlier, if the Nifty Index closes above 13770, today & tomorrow 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 13980-13955 levels. The month-end, quarterly- end, year-end, finally the last day of the decade, falls today, hence the Nifty may try to close with positive note, may be the intraday volatility may rise, due to the F&O expiry, 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.