SUNDAY


WEEKLY UPDATE




Nifty last week dropped heavily from 8625 levels to 8328 levels, correction in nifty was


a reflection of international market and prevailing tensions in middle east coupled with


profit booking for accounts year end, strong supports for the commodity is now at 8325 levels


and resistance at 8490 levels, for the day’s ahead we expect prices may test its resistance


any decisive break above 8490 levels then buying could emerge in, for the week ahead


we recommend to buy nifty only above 8500 levels with stops below 8430 for targets 8560,8600 and 8630.



Weekly Call :



1) Buy nifty Near supports around 8440 levels



with stops below 8305


for targets 8460 and 8490 levels.



2) Buy Nifty only above 8500



and add further on dips up to 8485 levels



with stops below 8430



for targets 8560, 8600 and 8630.