21.01.21 Thursday, 8.36 am

Good Morning followers & readers 

Hi BULLS, be ready to celebrate the important moment in the history of Indian Stock Market, the SENSEX may test 50k i.e., 50000, at any time from now !!!  Lets hope.. just 200 points away to reach this historic mark. 

What has happened on yesterday? Nifty Index, as written and expected opened on flat to positive note at 14538.30, our expected opening band i.e.,14520-14546, on opening move, it made day low at 14517.35, thereafter, the Index moved up throughout the day with intraday volatility, made day high 14666.45 and closed at 14644.70 on positive note with Intra gain 123.55 points i.e., 0.85%.

What will happen today? Nifty Index may open on flat to positive note to test 14650-14670-14700 if open, trade and sustain above 14700 then, the Index may test 14740-14770-14795-14815 levels. On the other hand, the immediate support lies at 14617-14570 if, trade and sustain below 14570 then, the Index may try to re-visit 14535-14515-14470-14440-14390 levels.

Special Mention: Yesterday, the Nifty Index once again started the northward journey and re-tested the recent all time high point i.e., 14563.35, broken this level, further made new all time high 14666.45 and closed well above 14550-14570, as stated yesterday, further rally now is possible to test 14770-14890-15035 in the near term. On the other hand, the weakness now, lies below 14570-14450, any close below 14570 for three consecutive trading sessions then, the Index may re-visit 14350-14260-14222, further down move below 14222, then the Index may be dragged till 14160-14100-14040 levels in the near term. As I wrote earlier, the 50k in Sensex (just 200 points away for this historic level) and 15k in Nifty is possible levels in the near term, may be today or before Union Budget i.e., 01st Feb'21. Let see how it opens today and trade near 14650-14700 levels , the India Vix, volatility index as written yesterday, ruled the index with high volatile move, today and tomorrow also, we may witness more volatile move in the Nifty Index, due to option weekly expiry and tomorrow's week-end factor, trade with due caution is my advise at this juncture.

Trading Strategy: The followers/readers, those who invested in the recent down move till 14222, start book partial profit, when the Nifty moves to 14750-14890-15000 level, for the short term gain between 5-10% in the stocks invested.

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