Nifty outlook and view for 31/12/2009
December 30, 2009 by admin
Filed under Analyst's Corner
Nifty (5169)
Nifty has shown weakness and formed “Small Black Candle” bearish candlestick pattern. Daily RSI and Stochastic are exhibiting negative divergence in overbought zone. Strong intraday support formed at 5DEMA which is placed at 5139 level, Short term support placed at 20 DEMA which is at 5083 level. Technically scenario looks murky and selling is seen at every higher level in the range of 5180-5190. For strong upmove Nifty needs at least two closes above 5200 level.
Intraday Support:-5155-5139-5125
Intraday Resistance:-5185-5195-5215
View by analyst Dhawal Jhosi -www.freestockmagic.blogspot.com
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Whats your projection for the rest of 2010 (June-December)? Do you think the markets will be flat? What are your guesses for Sensex reaching 20k?