25.01.21 Monday, 8.36 am

Good Morning followers & readers 

What has happened on Friday? Nifty Index, as written and expected opened on positive note at 14583.40, our expected opening band i.e.,14605-14570, on opening move, it made day high at 14619.90, thereafter, the Index traded wiht downward bias throughout the day, tested our final intra support level i.e., 14350, made day low 14357.75 and closed at 14371.90 on negative note with Intra loss -218.45 points i.e., -1.50%.

What will happen today? Nifty Index may open on positive note with gap up by tracking the global indices to test 14440-14460-14485 if open, trade and sustain above 14485 then, the Index may re-test 14517-14540-14570-14620-14665-14710-14750 levels. On the other hand, the immediate support lies at 14420-14385 if, trade and sustain below 14385 then, the Index may try to re-visit 14355-14325-14285-14255-14222 levels.

Special Mention: On Friday, the Nifty Index had seen selling pressure, the weakness dragged the Index till 14357 and closed well below 14450 for the frirst trading session, if the Index further closes below today & tomorrow below 14450, then it may re-visit 14222-14040-13890-13770 levele. On the other hand, if the Index able to regain and closes above 14440-14470 then, it may re-test once again 14570-14620-14750, further strong upmove above 14750, then it may test 14890-15000 levels very soon, let see how it opens today and trade near 144460-14485 levels. The Intraday volatility may be high throughout the week, the India Vix, volatility index, if moves above 24.68-25.41 levels then the Index may trade with high volatility, since the Union Budget is nearing i.e., 01st Feb, Monday, 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