28.01.21 Thursday, 8.36 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as written and expected opened on negative note at 14237.95, our expected opening band i.e.,14150-14075, on opening move, it made open and high as same point at 14237.95 thereafter, the Index traded with downward bias throughout the day with intra volatility, traded near our intra support level i.e., 13910, made day low 13929.30 and closed at 13967.50 on negative bias with Intra loss -271.40 points i.e., -1.93.

What will happen today? Nifty Index may open on negative note to test 13930-13850 if open, trade and sustain below 13850 then, the Index may re-test 13810-13770-13750-13705-13660 levels. On the other hand, the immediate resistance seen at 14010-14040 if, trade and sustain above 14040 then, the Index may try to re-test 14110-14160-14210-14240-14300 levels.

Special Mention: Yesterday, the Nifty Index continued its southward journey, though it opened yesterday near 14237, it was unable to sustain near 14220,  the weakness cum sell-off dragged the Index to our further support level i.e., 13945, today if the Index further moves below 13920, then the Index may test 13850-13770-13665 levels very soon. On the other hand, if the Index able to regain and closes above 14220-14250 then, the pull back rally may take the Index to re-test once again 14440-14500, let see how it opens today and trade near 13930-13850 levels. The Intraday volatility may be high today and tomorrow, even till Monday, the India Vix, volatility index touhced 24.75, if moves above 24.75 , then the Index may trade with high volatility, since today's F&O Expiry and tomorrow's week end factor and Monday, the Union Budget is expected to present, trade with due caution is my advise at this juncture.

Trading Strategy: The followers/readers, try to start invest near 13850-13500 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