Market ended higher for the third straight session on December 23 with Nifty above 17000 supported by the positive global cues. At close, the Sensex was up 384 points at 57315, and the Nifty was up 117 points at 17072. Power Grid Corporation, IOC, ONGC, ITC and Cipla were among the top Nifty gainers. Losers were JSW Steel, Divis Labs, Bharti Airtel, Sun Pharma and UltraTech Cement.
17100-17200
is a resistance zone and we are shying away from those levels. Once we close
above 17250, there will be renewed confidence in trading on the buy side.
Until then the bias continues to remain on the sell side. The support for the
Nifty is at 16950-16850 and if that breaks, we will retest the recent lows.
Resistance: 17100, 17150, 17250
Support: 16950, 16850, 16750
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