15 December 2016

NIFTY OUTLOOK & FREE NIFTY TIPS FOR 16 DEC 2016

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Market feels Fed rate hike ripple…!!! Today after the American Federal Reserve decided to raise the benchmark interest rate for the first time this year, the BSE Sensex fell 141 points to 26462 in the opening session only. Towards end of the trading session, Sensex and Nifty both lost points it had gained in the afternoon hours of trade. Both closed in red, Nifty ended at 8153 while Sensex ended losing more than 80 points. The Sensex ended with a loss of 84 points at 26519. The benchmark indices opened at 26497 touched an intra-day high of 26737 and low of 26407. The NSE Nifty was down 29 points and closed at 8153. It opened at 8128 points, hitting a high of 8225 and low of 8121.
Wednesday’s trades remained within the 8160- 8235 band but with increasing bias towards the lower range. This suggests that a new range would be set today, the 8100 region is likely to arrest early downside attempts, but upside prospects look even more limited today and push above 8150 may only dilute bearishness, and will not usher in fresh buying interest. Directional downsides aiming 8000 are less expected, but can be played once 8070 gives away convincingly.
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Supports: 8200 and 8150
Resistances: 8300 and 8350

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