SMI – 16th December Market Outlook

Posted By : Kishore B.S

Hi All,

After 5 days of profit booking we see Nifty closing below its important support of 6200. Now the market is standing in such a situation that if Nifty breaks 6100, taking short position is advised because down side target will be 6000 or 5900. However if it breaks 6250 levels and closes above that, taking long position could be advised.

Today SGX Nifty shows a negative open due to global cues. US Fed meeting and RBI credit policy are the key events during this week.

Stocks to watch are all the banking and financial stocks because the market expects the RBI could hike interest rates by 25 bps.

Cheers  !!

Team SMI

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