Market Outlook for 18 Dec

Hi All,

As per my expectation we did not got a gap up. As the Global Cues were not in favour of the Gap up. But my expectation proved right through the day and Indian Markets were the best performer in the Global peers.

Where all market fell by 1.5 to 2.5 % the Indian market gave some good gains but at late closed flat . So today my concept of going long helped intraday traders . That would have resulted in profit.

Nifty tried its best to cross 5050 and even crossed it but could not hold that level. This shows that the resistance of 5050 seems to quite tough. Even there is good support in the downside.

The market seems to be range bound. But tomorrow we can expect some gap down opening as the global cues seems to be -ve and dow has already ran up quite a lot without any correction.

Correction in Dow can effect the Nifty too. If you are good and risky trader who can go short on the market . Otherwise keep away from the market. This market can give good buying oppurtunity in near term. So keep looking for the same.

Now Banks are in quite a pressure. Today it showed some recovery but still lot of short position are made on the Bank Nifty. Tomorrow Bank Nifty will gap down . But keep an eye on it. On the pull back it can give good results. It might take few days for the pull back to happen. So keep an eye .

There are certain views of analyst:-
Reference www.rediff.com


3:00 PM - In an F&O call, sell Nifty December futures with a target of 5010 and stop loss of 5085, says Rahul Mohindar, technical analyst, on CNBC Awaaz. » Send to friends

2:56 PM - In an F&O call, sell Nifty December futures with a target of 4920 and stop loss of 5100, says Sudarshan Sukhani, technical analyst, on CNBC Awaaz. » Send to friends

2:53 PM - In an F&O call, buy Nifty December futures with a target of 5130 and stop loss of 5010, says Ashwani Gujral, technical analyst, on CNBC Awaaz. » Send to friends

2:50 PM - In an F&O call, buy Nifty December futures with a target of 5100-5125 and stop loss of 5020, says Mitesh Thacker, technical analyst, on CNBC Awaaz. » Send to friends

2:45 PM - In an F&O call, buy Nifty December futures with a target of 5125 and stop loss of 5010, says Akshata Deshmukh, technical analyst, on CNBC Awaaz. » Send to friends


Even the analyst seems to be divided . But as per my opinion market will be gap down. Go short on the market if your risky trader or wait for dip to buy at low levels.

I will add more points about the analyst who give their views and changes them quite frequently in my coming articles.

Now going to sleep ...