Weekly Technical Equity Research Report
Date :- 5-Dec-2015 - 9-Dec-2015
Nifty Fut (Weekly Chart) CMP :- 8108.90
View :- Sideways
Nifty Fut View
Nifty futures traded with volatile sentiments last
week tracking bearish USD/INR prices and profit
booking at higher levels from traders. It likely to
face the volatile movement in current week as
well on short covering at lower levels from
traders. It witnessed some good buying support
but failed to sustain at higher levels at the end of
the week which indicates continuation of volatile
movement due to short covering in current week
as well. If it managed to sustain below 8050 level
than it may witness bearish sentiments till 7800
levels. Sustaining above 8150 level with good
volume will make Nifty bullish and up side may
come due to short covering above that level.
Overall trend for Nifty futures likely to remain
volatile for the week and may witness some
short covering at lower levels which may limit
the downside in Nifty. Technically, Fall in volume
and rise in open interest with volatile price
movement indicates sideways movement in
current week.
R2
8347
Nifty Fut Weekly Pivot Points
R1
Pivot Point
S1
8228
8153.58
8034
Nifty Fut Weekly Range
7750
8300
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S2
7959
Sale
Value
Buy Value
Net Value
Recommendation :Weekly Call
:-
Sell NIFTY Fut Dec around 8200 Tgt 8000/7900 Stop loss 8350
Name
Milan Shah (Sr.Technical Analyst)
Email
Contact
[email protected]
(079) 40001092/93 Ext :- 192/193
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