For the weekend 11th Dec'20-Friday... Updated on 06.12.20, Sunday-04.29 pm

Last week Nifty trend: Nifty Index as expected and written last week, opened with positive note at 13062.20, our expected opening band i.e., 12975-13035, made a low 12962.80 on the opening day thereafter, it moved up till 13280.05 on Friday and closed at 13258.55 with a weekly gain by 289.60 points i.e., 2.23%. 

This week Nifty Trend: The Nifty index may open on Monday i.e., 07th Dec'20, on a positive note, subject to the Asian market move, to test 13280-13310-13325, if open and sustain above 13325 then, the Index may try to test 13365-13415-13435-13520-13600-13685-13770 levels. On the other hand, the immediate support lies at 13145-13100-13020, any further weakness below 13020 then, the Index may re-visit 12960-12885-12790-12770-12720-12670-12610 levels.

Key Events: The coming week, no major key events are expected on the Global front as well as on the domestic front, except the much awaited, further US economic stimulus package, may come this week and in the domestic front the IIP data for Oct'20 is expected on 11th Dec'20-Friday, further the India Inc. quarterly results for the remaining corporate companies are awaited, so, far, on the total of 4248 companies, 3427 companies were declared their Q2 results, they made a net profit 383.60% when compared with the Q1 net profit on QoQ basis and YoY basis the net profit also moved to 492.30% from the same period last year i.e., Sep'19, though the net profit numbers shows the tremendous growth, but the Sales/Income are not seen the major turnaround, when compared with the last year Sep'19, we should wait and watch the remaining corporate companies results, in the ensuing days. The price valuation i.e,, Price Earnings ratio-PE, last week has peaked 36.46 times on Friday, when compared to last week, it was 35.66 times. 

Special Mention: Last week, the Nifty Index was able to break the thershold resistance level 13145 and moved up till 13280, due to the FIIs buying spree in the Indian Equity market, which helped the Nifty Index to made a new alll time high i.,e 13280 levels, as expected it was consolidated last to last week and started further upmove, after taken the strong support at 12790, since the Nifty Index moved up above 13145 and closed on Friday with weekly close above this level, shows the bullish tone in the Nifty Index, if it moves above 13310 on Monday then 13420-13770 possible targets in the near term. At the same time, any weakness now only at  13145-13100, if breaks these levels and closes below 13100, then the sell-off may drag the Index till 12790-12550 levels in the near term. Let see, how it opens on Monday, whether it breaks 13310 levels or not. As per depositories data, the Foreign Portfolio Investors-FPI pumped in a net sum of Rs 16,520 crore into equities and Rs 1,298 crore in the debt segment during December 1-4, amidst better than expected economic recovery around the world and positive sentiment on the back of various vaccine results and RBI recent monetary policy and their stance on the Indian economy revocery, all were lifted the optimism. But, at the same time there may be a sell-off with profit booking, can expect at any tme from the second week or before of Dec'20, at least till 12290-12550-12000 levels, trade with caution, especially in the F&O, avoid aggressive long posiitons in the Futures segment.

Sector wise performance: Last week, all the major sectoral Indices were traded on the positive bias and closed in green: The Nifty Realty lead the weekly gain by 12.65% followed by, Nifty Metal gained 8.05%, Nifty Auto gained 4.62%, Nifty Pharma gained 4.35%, Nifty Energy gained 4.17%, Nifty IT gained 2.50%, Nifty FMCG gained 2.01% and Nifty Bank gained marginally by 1.50%. On the other hand, Nifty mid cap index closed with a weekly gain i.e., 2.44% & Nifty small cap index closed on a positive note with weekly gain by 1.92%. Watch, the Banking segment, there may be further up move possible in tbe Nifty Bank since, the banks are trading with lower valuation. the Nifty Bank Index made all time level at 32613.10, now it is trading at 30200 levels, another 2000 points, up move is possible to re-test the all time high.

Institutional Investors trading data: The Foreign Institutional Investors-FII's last week continued as a net buyer in the Equity segment, they bought to the tune of Rs.10206.36 crores on the net basis whereas, the Domestic Institutional Investors-DII's, continued as a net seller, they sold all the days during last week, to the tune of Rs.6090.52 crores on the net basis, as per the data forwarded to the SEBI, the FIIs continued the inflow all the days in last week, in to the Indian equity market, we should wait and watch, how they behave coming week.

USD Vs INR: The USD Vs INR depreciated from the weekly high level i.e.,$74.19 and moved down till $73.40, closed on Friday at $73.80, now further appreciation is depends on breaking above 73.82-74.19 on the upper side then, it may test $74.29-74.47-74.58-74.69-74.82-74.95 levels. On the other hand, it looks the USD Vs INR may take support this week at $73-40-73.23, any weakness below $73.23, it may try to test $73.10-72.97-72.84-72-71 levels. 

Tading Strategy: The Investor/trader, those who Invested at 11500 levels, book profit 13310-13420-13770 levels and wait for further crorrection, to re-invest i.e, adopt Buy on dips strategy, if Nifty Index test 12770-12400 levels, to trade for a short term gains with medium term perspective, rather to wait for the long term basis.

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Wishing you for a safe and secured with profitable trading.