For the weekend 01st Jan'21-Friday... Updated on 27.12.20, Sunday-09.15 pm

BISTA wishes an advance Happy New Year 2021, to you and your near & dear... let the New Year 2021, bring more profitable trades with happiness to all

Last week Nifty trend: Nifty Index as expected and written last week, opened flat with negative note at 13741.90, our expected opening band i.e., 13727-13700, made a high 13777.50 on the opening day i.e., on Monday, thereafter, the sell-off dragged the Index and made a panic bottom till 13131.45, further the pull back rally once again lifted the Index on Thursday till 13771.75 and closed the week at 13749.25 with a marginal weekly loss by -11.30 points i.e., -0.08%. 

This week Nifty Trend: The Nifty index may open on Monday i.e., 28st Dec'20, on flat to positive note, subject to the Asian market move, to test 13770-13805, if open and sustain above 13805 then, the Index may try to test 13865-14040-14100-14175-14300-14425 levels. On the other hand, the immediate support lies 13730-13685 levels, any further down move below 13685 then, the Index may test 13640-13585-13450-13380-13285-13200-13130 levels.

Key Events: The coming week, no major key events are expected on the Global front. the much awaited US further stimulus measures announcemnet to revive their economy, yet to sign by the outgoing US President Mr.Donald Trumph,  as well as on the domestic front, the India Inc. quarterly results for the remaining corporate companies are awaited, so, far, on the total of 4248 companies, 3842 companies were declared their Q2 results, they made a net profit 389.30% when compared with the Q1 net profit on QoQ basis and YoY basis the net profit also moved to 557% 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 once again till 37.81 times as on Thursday, when compared to last week, it was 37.84 times. 

Special Mention: Last week, the Nifty Index successfully tested our much awaited thershold support levels i.e., 13141, due to the global weakness the Nifty got sold-off from 13777 to 13141, in a single trading session, as I wrote the brief correction was so quick and very sharp movement, but it was once again reached the 13770 levels and closed with flat note. This week, if the Nifty Index surpass, sustains and closes above 13777 for three conesecutive trading sessions then, the Index may test 13955-14040-14300-14425 levels. On the other hand, now any weakness only below 13580-13450, if the Index breaks, sustains and closes below 13450 then, it may re-test 13140-12900-12790 levels very soon. It looks, the Sensex would test 50k mark.. just 2950 points away for this level and Nifty Index also may test 15k mark, it may happen Jan-Mar 2021, but before that a meaningful correction till 13145-12790 levels, is a must, though it made a panic bottom till 13131, it should re-test once again 13131 levels. This week is the last week of the year and last of week of this decade, it looks it will close with a good and positive note, may make further new all time high, let us wait and watch how it closes on 01st Jan'2021.

Sector wise performance: Last week, almost all the major sectoral Indices were traded on the negative bias and closed in red, except the Nifty IT & Nifty FMCG: The Nifty Metal lead the weekly loss by -2.25% followed by, Nifty Energy lost -2.15%, Nifty Auto lost -2.08%, Nifty Realty lost -1.50% and Nifty Bank lost -1.02%. On the other hand, Nifty IT gained by 3.24% and Nifty FMCG marginally gained by 0.04%. Nifty Midcap Index closed on a negative note with weekly loss by -1.55% and Nifty Smallcap Index closed with a weekly loss by -0.80%. 

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.2591.27 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 except on Monday, to the tune of Rs.3400.23 crores on the net basis, as per the data forwarded to the SEBI, the FIIs continued the inflow all the days in last week except on Monday, in to the Indian equity market, but the flow has come down, 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.,$74.13 and moved down till $73.47, closed on Friday at $73.74, the USD Vs.INR as written & expected last week, moved above $73.88, tested and made a weekly high near our resistance levels i.e., 74.19, but the weakness once again dragged the USD till $73.47, this week the move is depends on breaking below $73.47-73.39 on the down side then, it may test $73.29-73.23-72.97-72.71 levels. On the other hand, the USD Vs.INR, may test $73.85-73.93, if moves further above $73.93, may re-test $73.99-74.03-74.12-74.20-74.31-74.45 levels in the near term. 

Tading Strategy: The Investor/trader, those who Invested at 13150 levels, start book profit partially at 13770 levels book full profit 14k-15k levels if moves there and wait for further crorrection, to re-invest i.e, adopt Buy on dips strategy, if Nifty Index test 13150-12790 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.