For the weekend 12th Feb'21-Friday... Updated on 08.02.21, Monday-6.03 am

Last week Nifty trend: Nifty Index as expected and written last week, opened on flat to positive note at 13758.60, our expected opening band i.e., 13685-13710-13735, made weekly low low at 13661.75 on the opening day i.e., Monday, thereafter, the Index moved up throughout the week till 05th Feb-Friday, made weekly high 15014.65 and closed the week at 14924.25 on positive note with huge weekly gain  by 1289.65 points i.e., 9.46%. 

This week Nifty Trend: The Nifty index may open on Monday i.e., 08th Feb'21, on flat to positive note, subject to the Asian market move, near 15000-15070, if open and sustain above 15070 then, the Index may try to test 15150-15210-15350-15430-15500 levels. On the other hand, the immediate support lies 14870-14750 levels, any further down move below 14750 then, the Index may re-visit 14630-14575-14500-14420-14335-14220-14160-13970 levels.

Key Events: No major key events are expected this week, on the global front, as well as on the domestic front, other then the Indian IIP data for Dec'20 and India Inc. remaining corporate companies quarterly results for the Q3 (Oct-Dec'20 quarter), as of 06th Feb, 1099 companies announced their Q3 numbers, the Q-o-Q basis net profit seen a marginal drop from the positive numbers to negative return about -0.10%, when compares with the last quarter. On Y-o-Y basis, it was seen with a growth about 68.90%, 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 Funds flow are the trend deciders for the market direction in the near term, price valuation i.e,, Price Earnings ratio-PE, last week has peaked to the unprecedented level once again i.e., 41.46 times on Friday. 

Special Mention: Last week, though the sell-off dragged the Nifty Index till 13660, but the Union Budget saved the Nifty Index from the sell-off and tested our long awaited threshold levels 15k mark and closed well above 14755, the FIIs turned as a net buyer, they started the inflow everyday last week, hence the Nifty Index re-gained and moved up, the Nifty Index this week must surpass, sustain and closes above 15000-15070, to continue the upward bullish momentum to test 15200-15330-15500 levels. On the other hand if, the Nifty Index if not able to close above 15070 today and moves below 14755 and closes below this level for three consecutive trading sessions with weekly close,  then it may try to re-visit 14575-14420-14360-14150-13970 levels in the near term. 

Sector wise performance: Last week, all the major sectoral Indices were traded with the positive note and closed in green except Nifty Energy, The Nifty Bank was leading with the weekly gain 16.65%, followed by Nifty Financial Services gained 14.60%, Nifty Metal gained 11.88%, Nifty Realty gained 11.66%, Nifty Auto gained 9.28%, Nifty Pharma gained 6.41%, Nifty FMCG gained 4.60% and Nifty IT gained 2.78%, finally the Nifty Energy lost -8.93%.  On the other hand, Nifty Midcap Index closed on positive note with weekly gain by 7.25% and Nifty Smallcap Index also closed with a weekly gain by 6.41%. 

Institutional Investors trading data: The Foreign Institutional Investors-FII's last week once again turned as a net buyer in the Equity segment, they bouhgt all the days last week, to the tune of Rs.13595.24 crore on the net basis; whereas, the Domestic Institutional Investors-DII's, turned as a net seller, they sold all the days last week, to the tune of Rs.-4712.60 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 funds flow or not.

USD Vs INR: The USD Vs INR depreciated from the weekly high level i.e.,$73.21 and moved down till $72.81, closed on Friday at $72.93, the USD Vs INR as written & expected last week, taken support at our support level i..e, $72.81, made a weekly low at $72.81, this week is a crucial for USD Vs INR, if it is moves below $72.78-72.71 then, it may move down till  $72.10-71.20, on the other hand if it moves above  $73.21-73.32 on the upper side then, it may re-test $73.56-73.63-73.70-73.83-74.13 levels in the near term. 

Tading Strategy: The Investor/trader, those who invested last week when the Nifty Index traded at 13700 levels, start book profit partially at 15k and book further profit 15200-15500 levels and wait for further dip to re-invest again in Nifty 50 stocks with short to medium term perspective.

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Wishing you for a safe and secured with profitable trading.