Friday, December 26, 2014

Nifty managed to close above 8200

A volatile session ended with a positive note. Nifty ended at 8200.7, up by 26.6 points and Sensex rose 33.17 points to close at 27241.78.
Among NSE sectoral indices,CNX PSU Bank rose the most by 1.32% whereas CNX FMCG declined the most by 0.68%.
In Nifty50 stocks, DLF was the top gainer, rose 3.27% to close at 135.95 and BHEL was the top loser by 1.3% to close at 251.25.
Gujratgas was the turnover topper by traded value and Unitech by the traded quantity on NSE today.
Advanced / decline ratio was almost 1:1 as 772 stocks gained while 739 stocks declined today on NSE.

Nifty Outlook :
As we have seen that Nifty has started declining from the very first day of December. As it's a part of correction, but it has broken a support of 8280 and made nearly a 2 months' low at 7961.35 after 21st October. Now Nifty has completed 61% retracement (8626.95 to 7961.35) and again it declined in last few sessions. In coming month, Q3 results and RBI policy will influence the market movement.
Support : 8135 / 8050
Resistance : 8280 / 8370