NEEDS A PUSH

Dear Investors,

At last Nifty closed at 6000.It looks like Nifty is emerging out of consolidation to break upward. If Nifty can cross the 6003 level decisively then the last hurdle will be at 6069 and 6115 towards the new top formation. Hope New Year will give a ‘PUSH’ to the levels of 6115/6220; it has to be with high volume and with broader market participation

Will Bulls ‘PRESS’ key to ‘PUSH’ markets up, up and up? At least the gross technical favors ‘BULLS

From 1^st December to 21^ST December Nifty ‘PIVOTAL’ valuation has given good consolidation and to some extent higher tops and higher bottom formation (See the chart below). Same is the case with R1 (First resistance level) and S1 (First support levels) indicating a good probability of Nifty moving to higher levels in next few trading sessions, if not will consolidate for some more time.

On 21^st December

NIFTY closed at 6000

NIFTY High was 6007

NIFTY low was 5960

NIFTY PIVOT FOR 22^ND December is @ 5989

R1 (First resistance) @ 5999

S1 (First support) @5975

20 DMA (Day moving average) 5907

40DMA (Day moving average)@5961

Indicates that Nifty has closed above these crucial levels and has not broken the support too, A sign of ‘Good Omen’

MARKET MOVERS FOR NEXT FEW DAYS

Tata Steel

Hindalco

Sterlite

RIL

Gail

Infosys

ICICI Bank

HUL

BHARTI

Look at some minor counters like

JAGARAN PRAKASHAN

BLUE STAR

EMCO

ELECON

HEXAWARE

RCF

PETRONET LNG

TWILIGHT LITEKA PHARMA

GODAWARI POWER @ISPAT

TALWALKARS

TECHPRO

PRAJ IND

POLARIS

ALEMBIC

ACE

And INDUSIND BANK

Keep watch on market direction and have 5 to7% stop loss and ride the values

Prepare for the ride but with ‘CAUTION’ as ’NO BODY CAN TIME THE MARKET’

Thanks,

Dr. Vasant Bele

Disclaimer: Views expressed are mine. Take your own investment decisions