As per last Friday Move, Nifty touched a low of 8147 and reversed towards 8200. So what to expect Next.
“Lack of market cues both globally and domestically and liquidity drench owing to festive season in the West kept markets sideways for the day,” said Rakesh Goyal, senior vice-president, Bonanza Portfolio.
Brokers said they expect fresh foreign funds to flow after on-going Christmas holidays and in the next calender year.
The market got no major trigger from overseas markets, following the Christmas atmosphere.
However, expectations of hike in interest rates by the US Federal Reserve (Fed) as the American economy grew the fastest in more than a decade in third quarter, influenced sentiments.
Besides, it will strengthened the dollar and affect the inflows in emerging markets negatively, including India.
It also resulted in profit-booking by wary operators and retail investors.
The market also suffered a setback after the government was unable to get pass key legislative reform bills during the Winter Session of Parliament.
Failure to pass the GST Bill till now has led to market disappointment as it had discounted the successful approval of the Bill in the current session itself.
>>> Nifty Hourly Chart - As Posted Last Weekly Review <<<
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Last Weekly - Wrote clearly 6372 as a Resistance ... See what Happened.
>>> Nifty - Hourly - As Posted on 22nd Dec, 2014 <<<
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We had a Buy call from 8060 and Booked on third Target 8300.
>>> Nifty Hourly - As Posted on 23rd Dec, 2014 <<<<
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As expected Nifty touched 8364 - Same day we wrote 8270 and 8210 as a Support. See what happened.
>>> Nifty Hourly Chart - Happened and Yet to <<<
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Nifty made a low of 8147. So whats Next ? - Now if 8162 holds - Expect a good bounce for wave C. We are long in Nifty for a rally. Lets Wait and see how it works.
>>> Charts of Last Week <<<
>>> NTPC - As posted Last Weekly Review <<<
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Last Week wrote - NTCP on Fresh Break out - Look for more rally. See what happened.
>>> NTPC - Happened <<<
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Yes We booked on first Target with a Profit of Rs.20,000.
>>>BHARTIARTL - As Posted on 18th Dec, 2014 <<<
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We have posted on 18th Dec to Buy Bharti Airtel for a good upmove. We are long since 342. See what happened.
>>>BHARTIARTL - As Posted on 23rd Dec, 2014 <<<
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We made a Part Profit of Rs.5000. So as per above chart - Clear break out on RSI - Shows more rally. Lets us see more clearly on HOurly chart - How it completed its down trend and how its going to have its rally in coming days.
>>> BHARTIARTL - Hourly Chart - Happened and Yet to <<<
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Price almost completed its correction as a-b-c. Now get ready for a good upmove as price holds above the middle of the pitchfork. Remain long for a good target.
>>> INDIACEM - As Posted on Last Weekly Review <<<
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We advised to Buy India Cement on Last weekly Review. See what Happened.
>>> INDIACEM - As Posted on 24th Dec, 2014 <<<
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Clear Break out on Price - More Rally coming. Stay Long.
>>> SBIN <<<
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Though we are long in SBI - Price not moving as expected, even after RSI break out. So lets wait for a Price break out to rally.
>>> Performance till 26th Dec, 2014 <<<
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>>> Click the image to see on full screen <<<
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