22.01.21 Friday, 8.39 am

Good Morning followers & readers 

What has happened on yesterday? Nifty Index, as written and expected opened on positive note at 14730.95, our expected opening band i.e.,14650-14670-14700, on opening move, it made day high at 14753.55, thereafter, the Index traded in a range bound move, the last hour sell-off dragged the with high volatility near 14500, made day low 14517.25 and closed at 14590.35 on negative note with Intra loss -54.35 points i.e., -0.37%.

What will happen today? Nifty Index may open on flat to negative note to test 14605-14570 if open, trade and sustain below 14570 then, the Index may re-visit 14545-14517-14485-14450-14425-14405-14390-14350 levels. On the other hand, the immediate resistance seen at 14640-14670 if, trade and sustain above 14670 then, the Index may try to test 14695-14720-14755-14770-14795-14820 levels.

Special Mention: Yesterday, as expected the SENSEX on opening move made the sensational and historical all time high record 50k, the Nifty Index also made an another all time high record 14753.55, but the rally not sustained at 50k and Nifty also, unable to sustain at 14750, the profit booking cum sell-off dragged the Index till 14517.25, but closed well above 14570, today, the Nifty Index must trade and sustain above 14570-14630, then it may try to re-test 14670-14753, above 14753; as stated earlier, it may reach 14770-14890-15035 levels in the near term. On the other hand, the weakness now lies below 14570-14517-14450,  any close below 14450 for three consecutive trading sessions then, the Index may re-visit 14350-14260-14222, further down move below 14450, then the Index may be dragged till 14160-14100-14040 levels in the near term. Let see how it opens today and trade near 14570 levels. As expected yesterday, the India Vix, volatility index, ruled the index with high volatile move, today also we can expecte the Intra volatility, due to 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 profit, if the Nifty does not moves above 14750-14890 levels and wait for the dips to re-invest once again near 14250-14040 levels, for the short term gain between 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