Market Outlook 11 December 2009

Nifty (5135)

Nifty daily chart has formed “Small White candle” candlestick pattern which suggest uncertainty in market. Nifty lower shadow is longer than upper shadow which suggest Bull have slightly upper hand or we can say buying is there on down level but still floating in box range. RSI and Stochastic is in buy mode where as MACDh is still showing weakness. 5 DEMA placed at 5118 level and 20 DEMA placed at 5062 level. Over all scenario is still vacillating.

Intraday Support:-5118-5085-5062

Intraday Resistance:-5148-5162-5180