06.01.21 Wednesday, 8.39 am

Good Morning followers & readers 

What has happened on yesterday? Nifty Index, as expected and written opened on positive note at 14075.15, our expected opening band i.e.,14090-14050, on opening move, it made day low 14048.15, thereafter, the Index moved up throughout the day till our resistance level i.e.,14200, made day high 14215.60 and closed at 14199.50 on positive note with Intra gain 66.60 points i.e., 0.47%.

What will happen today? Nifty Index may open on flat to positive note to test 14200-14220-14235 if open, trade and sustain above 14235 then, the Index may test 14260-14285-14310-14360 levels. On the other hand, the immediate support lies at 14165-14145 if, trade and sustain below 14145 then, the Index may try to re-test 14115-14085-14050-14000-13955 levels.

Special Mention: Yesterday, the Nifty Index continued its northward journey, made record all time high 14215.60, as well closed above 14100, if the Index able to close today with weekly close above 14100 then, it may test 14310-14450-14600 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 14200-14235 levels. It looks, the positive momentum may continue, unless a decisive weakness below 13865 happens, then it 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. The India Vix started to move up with positive bias, we can witness more volatility rest of this week, due to option weekly expiry, which falls tomorrow, trade with caution is my advise at this juncture.

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

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Wishing you for a safe, secured and profitable trading