MARKETS FOR 26TH DECEMBER


NIFTY SPOT CONTINUES TO REMAIN IN A TIGHT FLAT RANGE & MOST LIKELY THIS TIGHT RANGE BOUND BEHAVIOR OF NIFTY WILL CONTINUE TILL EXPIRY OR TILL THE END OF THIS YEAR. MONDAY 24TH DECEMBER SAW NIFTY SPOT HIGH OF 5871 & LOW OF 5844, A VERY TIGHT RANGE OF ONLY 27 POINTS EVEN LOWER THAN LAST WEDNESDAY 19TH DECEMBER RANGE OF 29 SPOT NIFTY POINTS. FOR WEDNESDAY 26TH DECEMBER, SPOT NIFTY HAS NOT ONLY TO BREACH MONDAY 24TH DECEMBER HIGH OF 5871 SPOT & 5877 FUTURE LEVELS BUT ALSO HAS TO SUSTAIN ABOVE IT BY CLOSING A 30 MINUTE CANDLE ABOVE IT TO SHOW A GOOD MOVE UPWARDS. EVEN BREACHING AND SUSTAINING ABOVE SPOT NIFTY LEVEL OF 5866 OR 5872 FUTURE LEVELS  COULD GENERATE SHORT COVERING TO PROPEL NIFTY UPWARDS. SIMILARLY ON THE LOWER SIDE, SLIDE OF SPOT NIFTY BELOW 5844 OR FUTURES BELOW 5854 COULD BE THE EARLY SIGNAL FOR FURTHER FALLS.

FOR INTRADAY TRADING ON  WEDNESDAY 26TH DECEMBER, ONE MAY TRADE  LONG IN CASE NIFTY FUTURES BREACHES AND SUSTAINS ABOVE 5873 & MORE LONGS BE ADDED IN CASE NIFTY FUTURES BREACHES AND SUSTAINS ABOVE 5885. SIMILARLY ON THE LOWER SIDE IN CASE NIFTY FUTURE FAILS TO BREACH OR MORE IMPORTANTLY FAILS TO SUSTAIN ABOVE THESE LEVELS THEN ONE CAN BOLDLY TRADE SHORT & MORE SHORT BE ADDED SHOULD NIFTY FUTURE FAILS TO HOLD 5850 TO 5848 SUPPORT ZONE. FAILURE TO HOLD THE CRITICAL SUPPORT OF 5850 TO 5848 FUTURE ZONE(5840 SPOT) MAY SEE NIFTY SLIDING TOWARDS 5838 FUTURES(5828 SPOT) OR  TOWARDS 5826 FUTURES OR 5815 SPOT NIFTY LEVELS TO AGAIN SHOW A SOLID BOUNCE UPWARDS.

3 comments:

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