18 December 2015

NIFTY OUTLOOK & FREE NIFTY TIPS FOR 21 DEC 2015

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Weak end!!!! Nifty shuts below 7800 level. Sensex, Nifty fell on Friday after the government cut its growth forecast, but recorded their biggest weekly gains in more than two months after the US Federal Reserve raised interest rates without any disruptions to global markets. The BSE Sensex and NSE Nifty snapped four-day winning streak on Friday on account of selling in front line blue chips stocks taking cues from global counterparts. Sensex closed 284 points down at 25519, while Nifty settled 82 points down at 7761.
The BSE Sensex opened at 25765, touched an intra-day high of 25589 and low of 25482. It finally ended with a loss of 285 points at 25519. The NSE Nifty opened at 7829 hitting a high of 7836 and low of 7754, before ending with a loss of 82 points at 7762.
The 7860-7864 is the immediate resistance before it paves its way to the 7900 zone. On the downside, 7750 is an important support and below 7720, the current advantage that the bulls have may be lost and a retest of the 7700, 7680 could be likely.
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Resistance: 7800, 7850, 7900
Support: 7750, 7700, 7650

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