Monday, 14 December 2015

Outlook for 15th December

NIFTY 


Nifty spot opened at 7558.20  made a low of 7551.05 and moved up till 7663.95 and closed at 7650.05 . Nifty did 2 targets on the downside and completed nearly 2 targets on the upside too . As mentioned yesterday 'For this week 7662 and 7728 are important resistance zones and 7560 and 7493 are important support zones for Nifty spot. .Bulls would gain some momentum only on sustaining or closing above 7766 this month' .Today Nifty made a high of 7663.95. It would be interesting to see whether we get a followup move tomorrow on the upside

For tomorrow Nifty spot has resistance on the upside near 7665 - 7676 ,sustaining above 7694 is required to test 7723 - 7738 levels . Similarly Nifty spot has support on the downside near 7636 - 7625 , breaking and sustaining below 7606 we can test 7577 - 7563

Nifty Spot Levels for the day are

Long above 7670 for 7689 - 7713 - 7736

Short below 7630 for 7611 - 7587 - 7564

BANK NIFTY 


Bank Nifty spot opened at 16212.40 made a low of 16205.8 and moved up till 16440.85 and closed at 16350.65 . Now one should watch 16600 levels on the upside as breaking and sustaining above it would be important for further upmove 

Bank Nifty Spot levels for intraday are

Long above 16400 for 16440 – 16505 – 16555

Short below 16301 for 16262 – 16194 – 16146

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Disclaimer : These are my personal views and trades taken on them should be done with a strict Stop loss