05.01.21 Tuesday, 8.33 am

Good Morning followers & readers 

What has happened on yesterday? Nifty Index, as expected and written opened on positive note at 14104.35, our expected opening band i.e.,14065-14100, on opening move, it made high 14113, thereafter, the intra sell-off dragged the Index till our support level i.e.,13960, made day low 13953.75, further the Index took strong support at 13960 and moved up once again, made a day high 14147.95 and closed at 14132.90 on positive note with Intra gain 114.40 points i.e., 0.82%.

What will happen today? Nifty Index may open on negative note to test 14090-14050 if open, trade and sustain below 14050 then, the Index may re-test 14000-13960-13930-13900-13865 levels. On the other hand, the immediate resistance seen at 14110-14150 if, trade and sustain above 14150 then, the Index may try to test 14175-14200-14250-14310 levels.

Special Mention: Yesterday, the Nifty Index continued its northward journey once again, made record all time high 14147.95, as well closed above 14100, if the Index able to close today & tomorrow above 14100 then, it may test 14310-14450 very soon. On the other hand, any weakness now lies below 13950, further close below 13950 for three consecutive trading sessions then, the Index may re-visit 13770-13600-13450-13320-13131 levels in the near term, let see how it opens today near 14090-14050 levels. It looks, the positive momentum may continue, unless a decisive weakness below 13865, may change the trend towards downside till 13450-13131 levels. As I wrote earlier, the 50k in Sensex and near 15k in Nifty is possible levels in the near term either before Jan or Feb'2021.

Trading Strategy: The followers/readers, those who invested recently near 13150 level, start profit booking at 14150-14310-14450 levels, when the Nifty Index trading in that levels and wait for further dips to invest at 13770-13350-13140 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

Further details please do call us on 98410 48022 or contact thro' whatsapp: 99624 70636. Please read carefully, the Disclaimer published in the Disclaimer page.

Wishing you for a safe, secured and profitable trading