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

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