Bad inflation data and weak global cues crumbled the show yesterday and market closed in red. Sensex was at 15881.14 (-121.37), Nifty at 4763.25 (-37.35) and Nifty Fut at 4764 (-47.35). Market was volatile through out the day.
Today also market may be volatile and trade with negative bias due to weak global cues.
Nifty Watch for 15.12.11
Nifty tried to cross its resistance of 4830 but can't hold at higher levels. Near term support for Nifty is 4720/4695 and 4640
Near Term resistance for Nifty is 4785/4840/4866/4897
If Nifty is able to cross 4785 it may go up to 4840.
The last hope for Nifty on down side is 4640 below which Nifty may go up to 4450
Day's (14.12.11) Performance
1. Buy Nifty fut with TGT of 4813/4830/4842 Sl 4720 - 1st and 2nd TGT achieved - Profit Rs. 2850/-
2. Buy Nifty around 4807 or 4778 SL 4725.75 TGT 4844.05/4863.70/4891.35 ..... hold up to Friday TGT 4920/4934 - 1st TGT achieved and advised to exit - Profit Rs. 1850/-
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