Monday, December 15, 2014

Market Mantra
Nifty fell down to 8216 on Friday, as the whirlwind correction took its toll, after an initial rise to 8322. At the end Nifty closed at 8224 with a net loss of around 69 points.
However, as is seen since the morning trade 8150-8170 is likley to provide support for Nifty. At present the Nifty_spot is trading at 8,218.35 down 5.75 points. However, for the moment the correction seems to be over. The traders are suggested to for Nifty longs at 8,263.90 with a target of 8400. The investors are suggested to go full hog on the rate sensitives as Repo rate cut is now imminent.;
RESISTANCE: 8270 / 8300
SUPPORT: 8170 / 8150
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