Stock Market View For The Week 12/12/2011 to 16/12/2011

posted by Paritosh on Sun Dec 11, 2011 05:36 am

Weekly View: In my last outlook told, the month of December is always a positive month of the markets, and on 1st December itself we saw a fantastic gap up opening were after Nifty rose to hit 5099 and close the last week at 4867. Now for the coming week Nifty will be seen taking supports at 4840 levels, however if it does not take the support at 4840 we will see Nifty again going down to 4780-4720 levels. However, i think Nifty will not breach the levels of 4820 for this week. On the upside Nifty will face resistance at 4885-4930 levels. Further, the Option Markets suggest that, this week Nifty is about to stay in the range of 4780-4945 Over all view for the coming week is range bound trading with side-ways bias. The supports & resistance for the week are, Support @ 4840-4780-4720 Resistance @ 4885-4930-4980 Weekly Levels: Nifty: Remain long above 4840 with SL @ 4820 for a target of 4885 and cross over will take to 4920-4945 levels Remain short below 4790 with SL @ 4820 for a target of 4745 and cross over will take to 4720-4680 levels BHEL: Remain long above 263 with SL @ 259 for a target of 268 and cross over will take to 272 Remain short below 258 with SL @ 262 for a target of 252 and cross over will take to 248 Happy Trading............ Note : All the above rate are cash rates.

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