10 December 2015

NIFTY OUTLOOK & FREE NIFTY TIPS FOR 11 DEC 2015

Bulls troll bears…!!! The indices shrugged off weak global cues and weakness ahead of the crucial US Federal reserve meet next week. NIfty50 above 7650. The BSE Sensex and NSE Nifty snapped a six-day losing streak on Thursday as investors bought into beaten down shares such as Reliance Industries even as sentiment remained cautious ahead of the US Federal Reserve meeting next week. Sensex closed 216 points up at 25252, while Nifty closed 70 points up at 7683. Domestic markets bucked the muted trend seen in Asian markets as investors bought into beaten down shares such as Reliance Industries even as sentiment remained cautious ahead of the US Federal Reserve's December policy meet.
The bounce-back can extend to 7700-7720. Today's low has made some kind of a double bottom in the intraday sense and probably, for the next day or two, there is a very clear case for a bounce back, where one can go long on individual stocks, and the Nifty50 can give you a 50-70 point bounce-back. 
The 7800-7790 region is now a strong resistance zone and must be crossed decisively for signalling a halt in the selling and nifty futures must close above 7900 to signal strength. If, however, the 7600 region is also broken, the downswing will gain fresh momentum as bears tight their already strong grip.
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Resistance: 7750, 7800, 7850
Support: 7650, 7600, 7550

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