18 December 2014

NIFTY OUTLOOK FOR 19 DECEMBER 2014

Bulls are back on the driver’s seat now. Today bulls nifty to crossed the hurdle of 8150 and closed at 8159 level. Today Nifty reclaimed 8100 mark on value buying after recent sharp falls and hopes on tax reforms as the Cabinet cleared the long-pending GST bill. Today Nifty opened at 8138 made a low of 8084. Nifty reclaimed 8100 level by rising 129 points, to end at 8159 after soaring to 8174. Total 90 points was moved by nifty throughout the day.
Now tomorrow will be the week ended Friday. Not expecting so much movement in the market Bulls will try to cross the levels 8180-8200 and 8250 will act as a highest resistance level for nifty. At the other side if any downtrend will be there than, 8000 will act as a supporting level for nifty. 
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RESISTANCE: 8180, 8200, 8220 
SUPPORT:  8160, 8140, 8120

1 comment:

  1. MCX Copper last week showed bearish movement but not able to sustain below 400 and showed strong pull back on last session. Now, immediate resistance is seen near 415 above which 418.20 will act as strong resistance, if it is closed above this resistance then breakout of channel pattern is expected and may find next resistance at 423. On lower side 400 will act as important support for it.
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