Hi ..
As mentioned in the last post the Nifty touched the 5200 and went above that but could not sustain the 5200.
I as mentioned there will be a fight between bulls and bear at 5200 that we can see on 29 th Dec.Market closed with marginal gains but below the crucial level of the 5200.
On 30th Dec the market opened flat on account on Global cues and faced the same resistance. Today Bear on more charge but still bulls kept them stuck and Nifty closed at 5169. The important thing to notice is that we are again below the same 5180 levels.It can trigger the sell signal if Global cues does not turn out to very positive.
As 31st Dec is expiry day we can expect some good amount of volatility in market. Keep away from taking any position and wait for a decisive move.If you take risk then go for the short with a stop loss of 5220.
There is mixed feeling in the analyst too :-
3:00 PM - In an F&O call, buy Nifty January futures with a target of 5250 and stop loss of 5155, says Mitesh Agarwal, technical analyst, on CNBC Awaaz.
2:56 PM - In an F&O call, buy Nifty January futures with a target of 5250-5300 and stop loss of 5150, says Rohit Srivastav, technical analyst, on CNBC Awaaz.
2:50 PM - In an F&O call, sell Nifty January futures with a target of 5100 and stop loss of 5220, says Ashwani Gujral, technical analyst, on CNBC Awaaz.
2:44 PM - In an F&O call, sell Nifty January futures with a target of 5100 and stop loss of 5215, says Parsh Zaveri, technical analyst, on CNBC Awaaz.
2:41 PM - In an F&O call, sell Nifty January futures with a target of 5120-5050 and stop loss of 5240, says Husseini Wadharia, technical analyst, on CNBC Awaaz.
At last I want to Wish Happy New Year.
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