As like Last week the US Fiscal Cliff Fear still ON. So the Deadline on Monday, Dec 31st.
Meanwhile Market likely to focus on India's current account data for July-September due on Monday also with any hike in petrol prices by the government to reduce the mounting subsidy burden of oil marketing companies.
Meanwhile PMEAC Mr. Rangarajan again said that the reversal of monetary policy stand by the Reserve bank will come only when inflation shows definite signs of decline.
Lets see what Technical's Says.
>>> NIFTY - DAILY <<<
>click the chart to see on full screen<
Nifty almost inside the triangle for last 1 month, break on either side should decide the trend.
>>>NIFTY-HOURLY<<<
>As given on Last Weekly Review<
>click the chart to see on full screen<
As wrote on Last weekly Review, Nifty moved up above 5900, also i advised not to short. As expected Nifty moved up nicely and made a high of 5930.
So whats next ??
>>>Happened and Expectation<<<
>click the chart to see on full screen<
Unlike Last week, Nifty again doing an a-b-c-d-e correction as shown on chart. Two alternatives given on chart with explanations. Resistance 5910 should be broken on the upper side for any upmove.
>>>TATA STEEL - WEEKLY STOCK<<<
>click the chart to see on full screen<
Tata Steel - Looks week in short term. As shown on chart have broken the trend line and may touch the bottom of the channel line. Lets see!!!
>>>PERFORMANCE<<<
Almost Neutral or small Negative Performance this Month. Some Mid-Cap did not performed as I expected. IFCI,Siemens,JpPower and SunTV did not Performed as I expected. Hope to do it Nicely Next Month. Lets See!!!
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