InvestorQ : What is the trend and outlook for the week starting from 04th January 2021?
Suresh Patil made post

What is the trend and outlook for the week starting from 04th January 2021?

Answer
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4 months ago
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The outlook and trend for Indian markets continue to worsen gradually; though it has still not reached a stage where
meaningful short trades could be initiated. Moreover, the momentum has diminished slightly further, indicating a lower
probability of a sudden change in the trend this week. The short-term (weekly) and midterm (Monthly) trend and
outlook for Nifty are firmly negative indicating an adverse risk-reward ratio. The near term (daily) outlook and trend for Nifty
is neutral. The short term (weekly) outlook and the trend have now turned negative from neutral.

For this week-
• The day traders may avoid trading in the 13785 - 13960 nifty range. The long positions may be held with a stop loss
of 13735.
• For Bank Nifty The short and midterm trends are now negative, while near term trend is neutral. All short positions
may be held with a stop loss of 31915. Day Trading may be avoided in the 30565 - 30715 range. For all long position
maintain a strict stop loss of 30470
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