Monday, 14 December 2015

Nifty Support & Resistance Levels for 14-Dec-2015

SUPP 1: 7545
SUPP 2: 7460 
RES 1: 7645
RES 2: 7710 

Sensex slips over 100 points, below 25K; Nifty50 slips below 7,600

The BSE Sensex and NSE Nifty opened in red on Monday tracking weak global cues. Sensex opened 108.83 points down at 24,935.60, while Nifty50 index opened 52.25 points down at 7,558.20

GAIL, Hero MotoCorp, Maruti, HUL and Sun Pharma are top gainers while Tata Motors, TCS, M&M, ONGC and Axis Bank are among losers in the Sensex.  


The market ended lower dragged by autos and banking shares. Nifty future down by 82 points to close at 7627.

The 30-share BSE Sensex down 207 points at 25044. The market breadth was weak as about 988 shares advanced against 1661 declining shares on the BSE.
The Reserve Bank of India (RBI) is pressing ahead with its aim to clean up banks' balance sheets by March 2017 and towards that, it may make certain alterations to steps it has taken so far to tackle the NPA.
The rupee again breached the 67-mark by depreciating 18 paise to 67.06 against the dollar in early trade on Monday at the Interbank Foreign Exchange, mainly on strong demand for the American unit from importers and some banks amid a lower opening of the domestic equity market. Sensex was down 121.74 points at 24,922. Nifty was down 33.55 points at 7,576.
The government has imposed an anti-dumping duty ranging from 5-57 percent on cold-rolled steel for a period of five years. The duty has been imposed on countries such as China, US, South Africa, Thailand and Taiwan.
Asian markets traded mixed on Friday, despite Wall Street's positive finish overnight, as record low oil prices weighed resources plays and China shares opened in negative territory as another top executive was reported missing by local media.
Nikkei 225 gained 0.96%, while the S&P/ASX 200 fell 0.31% and the Shanghai Composite eased 0.84%.
The Dow Jones industrial average rose 82 points to 17574 the S&P 500 gained 4 points to 2052and the Nasdaq Composite added 22 points to 5045.
The Chinese markets opened lower ahead of another series of economic data due on Saturday, including retail sales, industrial production, and fixed asset investment. 
Nifty Technical Overview:

Nifty futures opened on flat note and witnessed bearish movement for the entire day as market tested the break out level of 7720 and closed around psychological level of 7600. In coming days if nifty future breaks the level of 7600 then it is expected to test the level of 7550-7500.

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