2 January 2016

NIFTY CHART & NIFTY WEEKLY REPORT UPCOMING WEEK FOR MONDAY 02 JAN 2016

TO GET FREE TRIAL FOR NIFTY FUTURE,STOCK FUTURE,CASH OR OPTION FILL UP THE FORM GIVEN HERE>>>>>>
WEEKLY RESISTANCE FOR NIFTY: 7972, 8003, 8089, 8175
PIVOT POINT: 7917
WEEKLY SUPPORT FOR NIFTY :  7886, 7831, 7745,7659
WEEKLY CHAT FOR NIFTY



















MONTHLY RESISTANCE FOR NIFTY: 8010, 8038, 8110,8182
PIVOT POINT: 7966
MONTHLY SUPPORT FOR NIFTY :  7938, 7894,7822,7750
MONTHLY CHART FOR NIFTY



















Sensex opened the week at 25980, made a high of 26197, low of 25955 and closed the week at 26180. Thus it closed the week with a gain of 319 points. At the same time the Nifty opened the week at 7865, made a high of 7994, low of 7862 and closed the week at 7982. Thus the Nifty closed the week with a gain of 132 points.
NIFTY FUTURE AS PER TECHNICAL,
After reaching a high of around 9100 in March, Nifty crashed to a low of 7500 in December, thereby creating a trading range of 1600 points for the past year. This year is likely to pan out in a similar way, so a similar wide trading range can be expected. The first half of 2016 is likely to be dominated by the bears, which will provide good entry points for the investors and value buyers from a medium to long term perspective. Not only Nifty, but lot of good quality stocks will get attractive if the current bearishness takes it to sub 7000 levels (Weekly Head & Shoulders target is at Sensex 22552 and Nifty 6741). Hence 2016 will be stock pickers market.
Even as the market has fallen around 15% from the highs, the optimism still remains intact amongst the Bulls. But the Long term Correction which started in March after making a peak at Nifty 9191, still continues. Thus any upward rally will be treated as a Pull-back and not a reversal of trend and hence will be treated as a shorting opportunity by the Bears. As a result of this tussle between the Bulls and Bears, markets are likely to witness sharp surge in Volatility for the coming year.
ABOVE 8000 IT IS BULLS AREA 
BULLS CAN TARGET 8100 AND 8200,
BELOW 7850 BEARS ARE ALSO CAN BE ACTIVE  
BEARS CAN TARGET 7750 AND 7600

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