11.01.21 Monday, 8.42 am

Good Morning followers & readers 

What has happened on Friday? Nifty Index, as expected and written opened on positive note at 14258.40, our expected opening band i.e.,14250-14275, on opening move, it made day low 14221.65, thereafter, the Index was trading in the range bound, the last hour up move lifted the Index, made day high 14367.30 and closed at 14347.25 on positive note with Intra gain 209.90 points i.e., 1.48%.

What will happen today? Nifty Index may open on flat to positive note to test 14350-14367-14385 if open, trade and sustain above 14385 then, the Index may test 14420-14450-14480-14515 levels. On the other hand, the immediate support lies at 14325-14305 if, trade and sustain below 14305 then, the Index may try to re-test 14280-14255-14215-14180-14160-14120 levels.

Special Mention: On Friday, the Nifty Index continued its northward journey, on the closing hours, it made record all time high 14367.30, closed well above 14310, if the Index able to close above 14310 for three consecutive trading sessions then, it may test 14480-14600-14750 by this week. On the other hand, any weakness now lies below 14310-14200, further close below these levels for three consecutive trading sessions then, the Index may re-visit 14040-13865-13770 levels in the near term, let see how it opens today near 14350-14385 levels. It looks, the positive momentum may continue, unless a deceive 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. 

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