08.01.21 Friday, 8.39 am

Good Morning followers & readers 

What has happened on yesterday? Nifty Index, as expected and written opened on positive note at 14253.75, our expected opening band i.e.,14185-14215, on opening move, it made day high 14256.25, thereafter, the Index moved down throughout the day and took supoort at 14120, made day low 14123.10, our support level i;e., 14120 and closed at 14137.35 on flat to negative note with Intra loss -8.90 points i.e., -0.06%.

What will happen today? Nifty Index may open on positive note with gap up by tracking the global indices to test 14250-14275 if open, trade and sustain above 14275 then, the Index may test 14310-14360-14395-14420 levels. On the other hand, the immediate support lies at 14220-14175 if, trade and sustain below 14175 then, the Index may try to re-test 14145-14125-14090-14035-13970 levels.

Special Mention: Yesterday, the Nifty Index continued its northward journey, on opening move, it made record all time high 14256.35, though it peaked till 14250, unable to sustain above this level, the weakness draaged down, but closed well above 14100, if the Index able to close today above 14100 then, it may test 14310-14450-14600 by next week. On the other hand, any weakness now lies below 14040-13950, further close below these levels 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 14250-14275 levels. It looks, the positive momentum may continue, unless a decisive weakness below 13950 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 some what cooled down, we may witness a range bound trade, if opens with gap up today, due to week-end factor may be some profit booking is possible in the noon session or at the last hour, trade with caution at the higher levels, is my advise at this juncture, 

Trading Strategy: The followers/readers, those who invested recently near 13150 level, start profit booking at 14310-14450-14600 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