14/12/2018
Daily Indices 14th Dec, Fri
Nifty & major indices
What we said Yesterday: Nifty 10738
Nifty moving above 10760(100edma) could help Nifty recover furhter towards 10806, 10874 or even 10997 a new high. Overall recovery we were expecting till 11091(61.8%) in coming 7-9 days. -ve trend in current situation could again re-enter if and only if Nifty falls below 10562 else bias could be flat to +ve.
What Happened Yesterday: NIfty: 10792
As discussed yesterday Nifty opened with 2nd gap-up opening & moved towards 10839. Yesterday was just the 2nd day with higher high higher low and higher close after the 5 day fall. Yesterday NIfty closed where it opened making the “Doji” like candle suggesting in-decesivess after 2 days rally. Even consider higher degree fall of 39 days consuming 1755 points currently Nifty since last 32 days in in Bounce mode and Nifty is able to recover 927 points in 32 days.
What to expect Today: Nifty 10792
Considering Yesterday ‘Doji” most imp level to watch today should be 10747(100edma). -ve trend in current situation could again re-enter of 1-2 days if and only if Nifty falls below 10750. Else bias could be flat to +ve. Overall our target for next 6-8 days should be 11090 (61.8%). Watch 10747(100edma) closely as good support.
+ve Indices: Next-50, Nifty-100, Midcap, Commodities, Consumption, CPSE, Div-Opportunity, Fin-Service, FMCG, Infra, NIfty-IT, Media, Metal, MNC, Value-20, Pharma, PSE, Pvt-Bank, Realty, Service
-ve Indices: -
