Nifty: 2021 - Off to good start

Benchmark Nifty rallies further to scale higher and post a close above the 14K mark for the first time. At a close of 14,050 the index gained over 70 points, majority of which came in the first hour of the trading session. On the 75min time frame the index has been dragging itself along the upper border of the rising channel and is still very much within the vicinity of this resistance line. The underlying trend is strong and resilient and most occurrences of price-momentum divergences have not lead to any correction. So strategically it's better to stay cautiously bullish with immediate supports at 13,960 and then 13,800.

Trade Well. Trade Wise.