For the weekend 29th Jan'21-Friday... Updated on 25.01.21, Monday-5.31 am

Last week Nifty trend: Nifty Index as expected and written last week, opened on flat to positive note at 14453.90, our expected opening band i.e., 14470-14510, made a low 14222.80 on the opening day i.e., Monday, thereafter, the Index moved up till 21st Jan, made a weekly high 14753.55, further the profit booking dragged till 14357.75 on Friday and closed the week at 14371.90 on negative note with weekly loss by -61.80 points i.e., -0.43%. 

This week Nifty Trend: The Nifty index may open on Monday i.e., 25th Jan'20, on flat note, subject to the Asian market move, near 14385-14410-14440, if open and sustain above 14440 then, the Index may try to test 14485-14560-14610-14700-14750-14820-14890 levels. On the other hand, the immediate support lies 14360-14320 levels, any further down move below 14320 then, the Index may re-visit 14280-14250-14220-14140-14070-14040-13950-13890 levels.

Key Events: No major key events are expected coming week, on the global front, as well as on the domestic front, except the US Fed meet to decide the the FED Interest rate, but there may not be any changes in the Interest rate, they may maintain staus quo to hold the Fed Interest as low as 0.25 for some more time. The India Inc. remaining corporate companies quarterly results for the Q3 (Oct-Dec'20 quarter) are awaited, so far, as of 23rd Jan, 237 companies announced their Q3 numbers, the Q-o-Q basis net profit moved up over 10.70% when compares to the last quarter. On Y-o-Y basis, it was seen with robust growth about 117.40%, when compares with the same period last year Dec'19, we should wait and watch the remaining corporate companies results, in the ensuing days. The Q3 numbers of the remaining corporates and FIIs fund flows are the trend deciders for the market direction in the near term, price valuation i.e,, Price Earnings ratio-PE, last week has come down form the unprecedented level i.e., 40.03 times and settled at 38.84 times on Friday. 

Special Mention: Last week, as expected and written the SENSEX, made a sensational and historical all time high record, surpassed 50k mark, made all time high at 50184.01 and the Nifty Index also successfully moved till 14753.35, but the profit booking dragged the Nifty Index till 14357.75 and closed well below 14570-14430, though it looks some weakness in the Nifty Index movement, the reversal is yet to confirm, it may be confirmed this week, if the Index closes below 14355-14220 levels, then the Index may re-test 14040-13890-13770. On the other hand if, the Nifty Index regain and close above 14470 for three consecutive trading sessions, then it may try to re-test 14570-14750, then only further up move is possible to test 14890-15035 levels in the near term. It looks, the volatility may rule the Index throughtout the week, due to the Union Budget, which is scheduled on 1st Feb'21.

Sector wise performance: Last week, all the major sectoral Indices were traded with the negative note and closed in red, except the Nifty Auto & Nifty IT. The Nifty Metal lead the weekly loss by -6.31%, followed by Nifty Pharma lost -3.63%, Nifty Bank lost -3.35%, Nifty Realty lost -3.28%, Nifty Financial Services lost -2.02% and Nifty FMCG & Nifty Energy lost marinally -0.58 & -0.47%, respectively. At the same time, Nifty Auto gianed 3.32% and Nifty IT marginally gained 0.48%.  On the other hand, Nifty Midcap Index closed on negative note with weekly loss by -1.25% and Nifty Smallcap Index closed with a weekly loss by -0.72%. 

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.4176.17 crore on the net basis, they bought all the days, except on Friday, 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.3436.26 crore on the net basis, as per the data forwarded to the SEBI,. We must watch the FIIs behaviour this week, whether they continue the profit booking or not.

USD Vs INR: The USD Vs INR depreciated from the weekly high level i.e.,$73.32 and moved up till $72.89, closed on Friday at $73.04, the USD Vs INR as written & expected last week, taken support at our support level i..e, $72.97-72.80, made a weekly low at $72.89, this week the move is depends on breaking above $73.32-73.43 on the upper side then, it may test $73.63-73.87-74.04-74.13-74.19-74.32. Likewise, on the down side the USD Vs.INR may try to take support at $72.97-72.80, if moves further below $72.80, may re-visit $72.71-72.59-72.46-72.34-72.21 levels in the near term. 

Tading Strategy: The Investor/trader, those who Invested at  booked profit at 14750 levels, start to re-invest in Nifty 50 stocks, when the Nifty Index trades near 14300-14040-13770 i.e, adopt Buy on dips strategy, 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.