21 December 2015

NIFTY OUTLOOK & FREE NIFTY TIPS TUESDAY FOR 22 DEC 2015



















“BUY NIFTY FUTURE ABOVE 7830 TGT 7870/7900”
The BSE Sensex and NSE Nifty ended in green on Monday following their global counterparts amid value buying.  The S&P BSE Sensex wiped out all initial losses to end the day 216 points higher, while broader CNX Nifty closed above its key support level of 7800 as aggressive buying by domestic funds also lent support to the market. Sensex rebounded by 216 points to close at 25735, while Nifty jumped 72 points to settle at 7834. 
Dalal Street benefited from renewed investor risk appetite. Investors seemed more sure-footed as months of uncertainty over the timing of a hike in US interest rates got over last week after the Federal Reserve raised rates for the first time in nearly a decade.
The 7790 - 7765 region is the immediate support and if this region too is decisively breached, the initiative will again move into the hands of the bears. CNX Nifty may then slide to 7730, 7690 levels once again and below 7665, the downswing is likely to gain fresh momentum. It must now sustain decisively above 7830 for signalling the bulls are still in charge and above 7865 for signalling strength.
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Resistance: 7860, 7900, 7940
Support: 7820, 7780, 7740

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