Nifty on 19 January 2021 opened with gap up in line with the global bourses and rose through the day. The index respected the key support at 14350 level and headed towards the 14550 mark. It closed the day with a decent gain of around 240 points with a strong advance - decline ratio. The index formed a bullish candle on the daily scale and negated the formation of lower tops and bottoms of last two sessions. Nifty reclaimed the 14500-mark in the intra-day trade to hit a high of 14546. The nifty closed at 14521 levels, up 239 points. 46 of the 50 constituents ended the day in the green.
Now, nifty has to hold above 14400 level to extend
its move towards a lifetime high of 14653 and then 14700 levels, while on the downside major support exists at 14350 and 14250 levels.
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Resistance: 14600, 14700
Support: 14400, 14300
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