GEPL Technical view on Nifty – 20th December (video)


Despite a negative bias in the opening session Nifty managed to take support at lower levels and staged a dramatic pull back as the session progressed. It ended the day with a gain of 56 points at 5948. We maintain a view that Nifty remains susceptible to sudden declines till the time it trades below 5990. In case it sustains above 5990 it may edge higher to 6070. On the downside it has support placed at 5850. A breach of that can drag it down to below 5700. As a trading strategy we advise clients to sell Nifty at present levels and on any rise till 15-20 points placing a stop loss of slightly higher than 6000


Click here to start investing now

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s