27.01.21 Wedensday, 8.39 am

Good Morning followers & readers 

What has happened on Monday? Nifty Index, as written and expected opened on positive note with gap up at 14475, our expected opening band i.e.,14440-14460-14485, on opening move, it made day high at 14497.95, thereafter, the Index traded wiht downward bias throughout the day, tested our final intra support level i.e., 14222, made day low 14218.60 and closed at 14238.90 on negative bias with Intra loss -133 points i.e., -0.93%.

What will happen today? Nifty Index may open on negative note with gap down by tracking the global indices to test 14150-14075 if open, trade and sustain below 14075 then, the Index may re-test 14040-14000-13950-13910-13865 levels. On the other hand, the immediate resistance seen at 14220-14285 if, trade and sustain below 14285 then, the Index may try to re-test 14350-14385-14430-14460-14490-14560 levels.

Special Mention: On Monday, the Nifty Index continued its selling mode, the weakness dragged the Index to our first threshold support level i.e., 14222, made a low 14218.60, today if the Index further moves below 14220-14145 then the Index may test 14040-13945-13770 levels in the near term. On the other hand, if the Index able to regain and closes above 14360-14450 then, it may re-test once again 14570-14620-14750, further strong upmove above 14750, then it may test 14890-15000 levels in the near term, let see how it opens today and trade near 14145-14040 levels. The Intraday volatility may be high throughout the week, the India Vix, volatility index settled at 23.25, if moves above 23.81 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, try to start invest partially near 14200-14000-13770 levels in the Nifty 50 stocks, 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