BANKNIFTY Update 04. 01. 2021

December has been a pretty decent month. We have started with a new year first of all just wanted to wish you all a happy and a safe new year. Under the current circumstances you know successful as any of us may have financially been this year I think we must be congrecent and stay humble in the face of how many people have suffered during these unprecedented times these times have taken us on a journey towards a winder price extremes in markets in the downside side as well as the upside and these massive challenges that we have been facing be it to confront these challenges with more debt and money printing. Last year covid as a trigger has seen capitulation by policy makers so they have certainly completely disconnected the markets asset prices from the fundamentals of the economy and we are told that none of this matters because of the low rates so I suppose most certainly this premise will be put to the test in 2021. So we get to a place where we see if things really don’t matter or maybe they do matter.

Banknifty Resistance Zone - 31462.25/31540.15

Support Zone - 31246.00/31147.95

Trade: will continue to stay long and short puts at dips as long as banknifty sustains above 30850.

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