Nifty 19Jan’21: Pure Vengeance

A gutsy bounce back from the benchmark Nifty50 to recover whatever it lost in the recent 2-day correction. So the expected zone of (14,100-14,250) worked well as supports and going forward will continue to act as one. If you had noticed, once 14,420 was taken out, there was no looking back from the index and so from a short-term perspective this 14,420 will now act as a support. On the upside, the index is now back within the rising red channel and is likely to face resistance close to 14,600. Strategically, stay bullish.

Thanks for following my work and please feel free to share your thoughts and suggestions.

Trade Well. Trade Wise.