For the weekend 15th Jan'21-Friday... Updated on 11.01.21, Monday-6.03 am

Last week Nifty trend: Nifty Index as expected and written last week, opened on positive note at 14104.25, our expected opening band i.e., 14020-14040-14060, made a weekly low 13953.75 on the opening day i.e., Monday, thereafter, the Index moved up throughout the week, made a weekly high 14367.30 on Friday and closed the week at 14347.25 on positive bias with weekly gain by 328.75 points i.e., 2.35%. 

This week Nifty Trend: The Nifty index may open on Monday i.e., 11th Jan'20, on positive note, subject to the Asian market move, near 14365-14405-14420 levels, if open and sustain above 14420 then, the Index may try to test 14480-14540-14600-14675-14750 levels. On the other hand, the immediate support lies 14310-13980-13865 levels, any further down move below 13865 then, the Index may re-test 13800-13770-13640-13585-13450-13380-13285-13130 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 Indian IIP and Inflation data are expected this week. The India Inc. quarterly results for the Q3 (Oct-Dec'20 quarter), already started with good note by the IT giant, TCS on Friday, the remaining corporate companies starts to declare their Q3 results from this week, the major IT giant Infosys is declaring Q3 numbers on 13th Jan'21 and Wipro also releasing their numbers on the same day, the HCL tech & HDFC Bank, will release their Q3 numbers on 15th Jan and 16th Jan respectively, we should wait and watch the remaining corporate companies results, in the ensuing days, the Q3 numbers and FIIs fund flows are the trend deciders for the market direction in the near term. The price valuation i.e,, Price Earnings ratio-PE, last week has peaked once again to unprecedented level i.e., 39.45 times on Friday, when compared to last week, it was 38.55 times. 

Special Mention: Last week, the Nifty Index successfully moved as expected till our threshold level 14310 and closed well above this level, I had written this target level i.e, 14-15k, when the Nifty index crossed the 12770 levels. This week, if the Nifty Index sustains and closes above 14310 for three conesecutive trading sessions with weekly close then, the Index may test 14750-15000 levels in the near term, on that 14600-14750 is possible this week itself. On the other hand, the weakness now lies only below 14310-14040, if the Index breaks, sustains and closes below 14030 then, it may re-test 13865-13650-13430-13140 levels very soon. It looks, the Sensex may test 50k mark, just 1150 points away for this level and Nifty Index also may test 15k mark, it may happen either this month or at least before Mar 2021. The Union Budget which is expected to be tabled on 01st Feb'2021, India Inc. Q3 performance and global cuses are going to be the trend deciders in the Indian stock market this month.

Nifty Financial Services: The new induction in the Index Futures & Option segment, the Nifty Financial Services weekly Futrues & Options, will start the trade from today, for the first time the NSE is trying the weekly expiry Futures with Nifty Financial Services, it may pave the way to introduce weekly Futures in Nifty & Bank Nifty too, in the coming days.

Sector wise performance: Last week, all the major sectoral Indices were traded on the positive bias and closed in green, except the Nifty FMCG. The Nifty Metal lead the weekly gain by 8.30%, followed by Nifty IT gained 6.98%, Nifty Auto gained 5.06%, Nifty Reality gained 3.51%, Nifty Bank 2.75%, Nifty Financial Services gained 2.15%, Nifty Pharma gained 2.07%, Nifty Energy gained 1.64% and Nifty FMCG closed in red with marginal weekly loss -0.33%. On other hand, Nifty Midcap Index closed on a positive note with weekly gain by 5.23% and Nifty Smallcap Index closed with a weekly gain by 3.81%. 

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.8758.01 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.4947.69 crores on the net basis, as per the data forwarded to the SEBI, the FIIs continued the inflow to the Indian equity market, all the days; except on Wednesday, in last week, further the flow has moved up once again last week, we should wait and watch, how they behave coming week.

USD Vs INR: The USD Vs INR appreciated from the weekly low level i.e.,$72.08 and moved up till $73.63, closed on Friday at $73.37, the USD Vs INR as written & expected last week, moved down till our support level i..e, $72.23-71.99, made a weekly low $72.03,  this week the move is depends on breaking above $73.63-73.74 on the upper side then, it may test $73.86-74.09-74.21-74.32-74.47. Likewise, on the down side the USD Vs.INR may try to take support at $73.16-73.01-72.95, if moves further below $72.95, may re-visit $72.83-72.73-72.64-72.52-72.40-72.21-72.03 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 14600-15k 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.

Further details please do call us on 98410 48022 or contact thro' whatsapp: 99624 70636. Please read carefully, the Disclaimer published in the Disclaimer page.

Wishing you for a safe and secured with profitable trading.