SMI Market Outlook for 20th December 2013

Posted By : Kishore B.S

Dear All,

Expect the market to open flat on indication of SGX Nifty. In last trading session IT and Pharma are the one which outperformed where the Nifty traded negative throughout the day. Therefore we are positive on both IT and Pharma. Stock like TCS and Sun pharma are looking good to take a position.

The technical view for Nifty and Bank Nifty, shows both the indices are trading near its support. If this support holds for next few trading sessions, Then we would recommend to go long on nifty and bank Nifty keeping a final stop loss for Bank Nifty 11000, Nifty 6164.

Cheers  !!

Team SMI

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