1st January 2021 – Market Analysis

Nifty ends above 14k in today’s market session

As the start of the new calendar year, 2021 on a positive note Nifty 50 manages to hold above 14,000 level throughout the trading session.

At close, the Sensex was up 117.65 points or 0.25% at 47,868.98, and the Nifty was up 36.70 points or 0.26% at 14,018.50, Although BankNifty was kind of losing trading strength at the end and was down -38.20 points or 0.12%.

The market is touching all-time highs on a daily basis with the hope that 2021 will be the recovering year. The Auto and IT indices rose 0.8% each.

What’s Next

Nifty should maintain the level of 13,850 and then we can see a good rally of 14200 and after that 14500 in upcoming months.

BankNifty would need to consolidate more above 31000 levels and we can see a sharp Up rally in few upcoming days.

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