NSE-INDEX OUTLOOK – 18
December-22 December, 2017
For educational purpose only, please trade after
consulting with your advisor.
NIFTY 50: On
last week of trading session we have seen a sharp movement in Nifty on Both
sides. Nifty Started the week at 10310.50 with gap-up and touched a low of
10141.55 and then shown a sharp recovery and close a week 10333.25 with a
overall gain of 67.60 Points.
Now what’s next:
On the Weekly Charts we have strong Support at
10,094 and 9709 wherein Resistance is at 10389 and 10410.
Once Nifty close above 10410 on a weekly basis, then
we may see a strong upmove. But i am not expecting the upmove will sustain
longer.
If i have to go for fresh position in this Market, then i will short Nifty future when Nifty spot is trading near 10400. I will
take a stop loss of 10490( spot) on closing Basis. My first Target will be
10145 and second target will be 10033.
