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Nifty today - 11th Jan 2021

Nifty is likely to stay in a wide range in the coming week. The 14,450 and 14,550 levels will pose resistance for Nifty at higher levels, while supports will come in lower at 14,150 and 13,930 levels.

Derivatives data suggested piling up of long positions. The Put-Call ratio of over 1.70 is on the threshold of getting overbought, but it stands for a buoyant setup.

Nifty has broken out afresh after Nifty took out the 13,700-13,750 range.

All in all, the trend remains strong, and this is what matters as we chase the market momentum. We may continue to follow the trend, which is obviously and strongly on the upside, but we need to chase the momentum, keeping the broader picture in mind.

It is more important to stay with the defensive sectors and avoid high-beta stocks.

We recommend approaching the market cautiously and keeping the overall exposure at modest.

Book profit partial, time to time, follow to keep strict stop-loss. because any technical pullback in the US dollar will subject the domestic market to some hiccups.

Happy Investing. Keep Trading.


Neeraj Bhatia

Managing Director


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