Tuesday, December 25, 2012

S&P CNX Nifty for 26 December 2012

The tipping point for today is at 5857 and unless the benchmark index trades above this threshold level with good volumes, the overall market will remain weak with immediate supports at 5824 and 5805. All the technical indicators are suggesting weakness, but tomorrow being the settlement day, market can throw surprise in which case the resistance is at 5865, 5879 and 5902.
Our outlook for today is continued weakness which may be utilized to go long on index and key stocks. However a breach of 5805 level conclusively will see fresh shorts being built.

No comments:

Post a Comment