24 December 2015

NIFTY OUTLOOK & FREE NIFTY TIPS FOR 28 DEC 2015

Christmas is here but no cheer!!!! Sensex, Nifty close flat. Snapping the two-day long gaining spree, the S&P BSE Sensex ended the day in red on Thursday, while broader CNX Nifty held its key support level of 7850. The Market was in a lackluster mood with a flat closing on the last trading day of the holiday shortened week. The Sensex is nearing the year end with a negative return. The BSE Sensex opened at 25894, touched an intra-day high of 25922 and low of 25763. It finally ended with a loss of 12 points at 25839. The NSE Nifty opened at 7889 hitting a high of 7888 and low of 7835, before ending with a loss of mere five points at 7861. Domestic markets erased early gains to weaken in low volume trade, dragged down by financials and IT stocks after RBI financial stability report raised concerns over corporate vulnerability and bad loans.
The Indian market is expecting a better year ahead with a revival in FII sentiments, on the back of reduced risks over global liquidity, correction in commodity prices to decade lows and expectations over government reforms near the budget.
Domestic equity markets, forex, money and commodity markets will remain closed on Friday on account of Christmas.
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RESISTANCE: 7880, 7930, 7980
SUPPORT:  7790, 7740, 7690

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