19.01.21Tuesday, 8.36 am

Good Morning followers & readers 

What has happened on yesterday? Nifty Index, as written and expected opened on flat note at 14453.30, our expected opening band i.e.,14435-14470, on opening move, it made day high at 14459.15, thereafter, the Index moved down throughout the day near our support level i.e.,14210, made day low 14222.80 and closed at 14281.20 on negative note with Intra loss -152.40 points i.e., -1.06%.

What will happen today? Nifty Index may open on positive note with gap up by tracking the global indices to test 14355-14385-14410 if open, trade and sustain above 14410 then, the Index may re-test 14435-14460-14480-14525-14560-14610-14650 levels. On the other hand, the immediate support lies at 14300-14260 if, trade and sustain below 14260 then, the Index may try to re-visit 14210-14160-14105-14040 levels.

Special Mention: Yesterday, the Nifty Index unable to move above 14470, but it broken 14350, almost tested our threshold support level i.e.,14210 and closed well below 14350 for the first trading session, if the Index continue to closes below 14350 today and tomorrow then, the Index may re-visit 14040-13870-13770 levels soon. On the other hand, if the Index today moves above 14385-14435 then, it may try to re-test once again 14570-14620-14650 levels very soon. As I wrote earlier, the 50k in Sensex (just 205 points away for this historic level) and 15k in Nifty is possible levels in the near term, may be before Union Budget i.e., 01st Feb'21. It looks the technical short term brief correction is winding up with the threshold support at 14210, may be the Northward journey may continue towards 14650-14735-14890, but this has to be confirmed with the close above 14355-14385-14435 levles for three trading sessions, let see how it opens today and trade above 14355-14435, the India Vix, volatility index may be cooled down today, since it peaked yesterday till 25.41, but closed at 23.40, it may reach today till 23.03-21.40 levels.

Trading Strategy: The followers/readers, those who booked profit near 14650 level, start invest again in Nifty50 stocks, when the Nifty moves to 14200-14000 levels for the short term gain 5-10%.

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