EOD Comments on Nifty 2nd December 2014

Posted By : Kishore B.S

NIFTY : (cmp 8524.70)

The Nifty has been under a Dream Run from the last one year and especially the last Two months has

seen the Indices galloping from the 7700 mark to the 8600 mark which translates to nearly 11.5%

returns in the matter of just 2 months.

This amazing run is the reason that most the Analysts are betting heavily on the Indices reaching the

9000 mark by End of December and January End at the Bleakest View.

However the Impasse created after the RBI policy today, where the Rates were unchanged and the

Bollinger Bands clearly pointing out that yesterdays’ and todays profit booking has been largely

influenced by this Technical factor.

As picturised below the Indices needs to correct to the lower band of the Bollinger series at 8400 for the

Healthy upmove to last for the coming days and unless the higher side of the 8620 is not broken we may

witness the downmove …. With this view in mind it would be better to use the dips to buy and rallies to

sell.

NIFTY

Cheers!!

Team SMI

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