3 December 2015


"SELL NIFTY BELOW 7885 TG 7855,7820 SL 7920"
After opening with a negative gap down, indices constantly declined throughout the day. Falling for the second straight session, the BSE Sensex today closed 231 points down to 25886 while the NSE Nifty ended 67 points at 7864 in early trade sustained selling by funds and retail investors amid sluggish Asian cues. The BSE Sensex opened at 26124, touched an intra-day high of 26123 and low of 25875. The NSE Nifty opened at 7902 hitting a high of 7912 and low of 7853.
Nifty Future closed the day in the negative as bulls could not absorb the supply in the major resistance zone around 7950 region. This level must be taken out decisively for fresh momentum which could then lead it to the 8000-8050 regions. 7850 is the strong support for now and if this is broken decisively, chances are that the 7800 region too will not hold and may lead to the retest the November lows of 7710.
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Resistance: 7930, 7980, 8030
Support: 7880, 7830, 7780

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