17 December 2014

NIFTY OUTLOOK FOR TOMORROW 18 DEC 2014

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Bears are still on the driver’s seat. Today nifty has broken the support of 8000 and touched a low of 7961. After opening at 8082 it made a high o f 8082 and closed at 8029 total 121 points was moved by nifty throughout the day. The market has been witnessing sluggish sentiment from the past few sessions. Today nifty closed at 8029, below the crucial 8050 mark.
As of today, the critical levels for tomorrow will be 8030 - 7980 on the downside and 8030 – 8075 on the upside. If the index were to slide below 8020 and stay there then we might be headed for a test of Nifty levels of 7900. In all likelihood, the Nifty is going to test levels around 7950. Any breakdown of this level would mean major weakness going forward. 
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RESISTANCE: 8040, 8070, 8100
SUPPORT:  8010, 7980, 7950

1 comment:

  1. Metals and Mining could jump up if market shows some correction. Adani ports could surge up on the back of signing deals with POSCO steel to export coal to Australia. IT & Pharma could gain if INR weakens (goes up) further against other currencies.
    Nifty Tips

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