Market Outlook 15 December 2009
Nifty (5106)
Nifty Daily chart has formed “DOJI” with high wave pattern which witnesses selling on higher level. “Double Bottom” formed at 5088 level. Strong support formed at 20 DEMA which is at 5071. As said earlier Nifty is in box pattern and the range is between 5050 to 5180, either side break out will give us continuation of trend. As long as Nifty is above 5050 probability of new high is there.
Intraday Support:-5085-5071-5050
Intraday Resistance:- 5136-5155-5180
Nifty Daily chart has formed “DOJI” with high wave pattern which witnesses selling on higher level. “Double Bottom” formed at 5088 level. Strong support formed at 20 DEMA which is at 5071. As said earlier Nifty is in box pattern and the range is between 5050 to 5180, either side break out will give us continuation of trend. As long as Nifty is above 5050 probability of new high is there.
Intraday Support:-5085-5071-5050
Intraday Resistance:- 5136-5155-5180
