26 December 2015

NIFTY CHART & NIFTY WEEKLY REPORT UPCOMING WEEK FOR MONDAY 28 DEC 2015

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DAILY RESISTANCE FOR NIFTY: 7896, 7921, 7960,8009
PIVOT POINT: 7862
DAILY SUPPORT FOR NIFTY :  7837, 7820, 7773,7744

DAILY CHART FOR NIFTY



















WEEKLY RESISTANCE FOR NIFTY: 7879, 7917, 8088, 8150
PIVOT POINT: 7840
WEEKLY SUPPORT FOR NIFTY :  7793, 7716, 7654,7592
WEEKLY CHAT FOR NIFTY



















Sensex opened the week at 25425, made a high of 25922, low of 25413 and closed the week at 25838. Thus it closed the week with a gain of 319 points. At the same time the Nifty opened the week at 7775, made a high of 7887, low of 7763 and closed the week at 7871. Thus the Nifty closed the week with a gain of 100 points.
NIFTY FUTURE AS PER TECHNICAL,
On the weekly charts, both the indices have formed a small Opening White body Marubuzo candlestick pattern after a bullish reversal pattern last week. On the daily charts both the indices have formed a small black body candle which is like a neutral formation. Thus weekly candlestick pattern suggests a bullish bias. After taking support at Sensex 24867 and Nifty 7551, the indices bounced back and are in a pull-back mode. The relevant Pull-Back levels are placed at Sensex 25918-26243-26567 and Nifty 7851-7944-8036. The Pull-Back rally overcame the Bearish Falling Gap between Sensex 25810-25857 and Nifty 7821-7853, after testing this Gap for five days. The indices closed above this gap on Thursday, suggesting that the Pull-back rally will continue and also indicating that the short term trend has turned upwards.
ABOVE 7979 IT IS BULLS AREA 
BULLS CAN TARGET 8100 AND 8150,
BELOW 7800 BEARS ARE ALSO CAN BE ACTIVE  
BEARS CAN TARGET 7700 AND 7600

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