The Sensex ended with a mere loss of three points
at 26211. The Sensex opened at 26243 touched an intra-day high of 26415 and low
of 26192. The Nifty closed with a marginal gain of two points at 8035. The
Nifty opened at 8048 hitting a high of 8101 and low of 8028. The Sensex, Nifty
closed flat after paring all of their intraday gains in the last hour on
Wednesday and ahead of the expiry of futures and options contracts of the
December series due tomorrow. Weak global cues and a weak rupee dampened the
sentiment.
Technically, The Nifty is gaining strength ahead of year-end. The contract is getting strong support near 8000 and the outlook is positive. A rise to 8120 and 8165 is likely now.
The level
of 8120 is the significant resistance. If the contract manages to rise past
this hurdle, the up move can extend to 8150 and 8165. On the other hand, if the
nifty reverses lower from 8120 a corrective fall to 8160 or 8150 is possible.
Traders can go long at every dip in the market with strict stoploss below 7893
levels on closing basis. Traders should note that this positive rally is for
very short term but for now traders can go long at every dip in the market
until market again see reversal. The support for the Nifty is
7993-7970-7897-7800 and the resistance to the up move is at 8053-8079-8105-8154
levels.Technically, The Nifty is gaining strength ahead of year-end. The contract is getting strong support near 8000 and the outlook is positive. A rise to 8120 and 8165 is likely now.
More
about intraday tips on
Google +
Support: 8000, 7975, 7950
Resistance: 8105, 8145,
8175
No comments:
Post a Comment