Market Outlook 24th Dec 2013

Posted By : Kishore B.S

Market Outlook 24th Dec 2013

Nifty has been trading flat since morning, not giving a clear direction. In yesterday’s trade, the last one hour saw Nifty losing the gains since morning. The way market is behaving we think that the 6400 levels will act as very strong resistance for the market. Unless Nifty breaks those levels no new long position is recommended. On Monday we recommended taking a long position in Nifty and Bank Nifty. We believe that one can keep a stop loss of 11280 in Bank Nifty and 6220 in Nifty.

 

Cheers  !!

Team SMI

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