Nifty 20Jan’21: Back to the highs

Benchmark Nifty50 index continues to rally further to hit a new life-high. The index has now recouped all of the recent price weakness in style and proved a point that Bulls are still very much in charge. Immediate range of resistance is (14,600-14,650) which should offer some momentum slow down, especially considering the fact that the index had a one-way rally. Immediate supports to watch for is now at (14,500-14,550). Strategically one should continue to stay bullish and look to trade either momentum breakouts or buy into pullbacks or both.

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