OnlineEquityCalls.com

Source : www.Niftyviews.com
Dear Friends,
I had mentioned a weekly resistance level at 3113 in our last week Nifty update. It was clearly mentioned that unless 3113 is crossed Bears have a wild card entry due to settlement. We can attribute two reasons for the down move. One being the Settlement hangover and the other Indo-Pak tension. I believe the latter played a major role in bringing the markets down. The last trading week of the year ended in a bear mode with Nifty falling 7.18% in the entire week.

BSE Sensex: (9329) the market unfolded weak as expected and has closed right on our support; so far the market looks down, as there is no sign of strength-displayed on the charts.

We said ‘Technically the trend is still intact up and is not compromised as yet. We have a truncated week ahead with Christmas and thereafter a holiday seasons approaching. The extended targets beyond 10324 would be 10708 if the up move continues. We could see some loss of momentum but strong supports exists around 9600. The crucial supports on the way down are at 9600 and resistances on the way up are at 10324-10708.

ROCKET STOCK…. ANDHRA PETROCHEMICALS Ltd. At 10.75/-;  TARGET 17/- & 35/-

Source – IndianMoneyPlus.Com - Markets give up gains post Christmas.