NIFTY OUTLOOK & FREE NIFTY TIPS FOR 9 DEC 2016

Bulls made a stunning comeback as the Sensex on Thursday rallied 457 points—its biggest one-day gain in over six weeks—to close at almost one-month high of 26,694, in line with ECB-induced global rally amid a stronger rupee. Nifty too topped the psychological 8,200 mark. Investors got their confidence level back, thanks to higher opening in Europe on expectations that the European Central Bank (ECB) at a policy meeting later in the day would extend its monetary stimulus. The Sensex and Nifty bull run continues, supporting this are the upwards run by associated indices. The BSE Sensex ended with a gain of 457 points at 26694. The benchmark indices opened at 26366 touched an intra-day high of 26733 and low of 26357. The NSE Nifty gained 144 points and closed at 8246. It opened at 8168 points, hitting a high of 8190 and low of 8077.

The markets may not see a decline, but they may remain flat for the coming few days. Nifty may touch 8300-8350 points once IT sector's downside is over. The Nifty could test 8380 as early as tomorrow. Next resistance is at 8420-8450.On downside first support is at 8055-8000 level.

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Supports: 8055 and 8000

Resistances: 8300 and 8350