Stock Nifty Technical News 16 December

Markets continued its losing streak due to weak IIP nos. and higher Inflation data and made the indices to close 1% lower breaching their crucial support levels. Nifty future opened below its 21 day EMA of 6230 and remained below it for the entire session and crossed 6200 mark. Now, for coming session if it sustains below 6200 then major support seen is 6150 while 6240 is seen as immediate resistance sustaining above which may indicate a pullback on daily charts.

TREND: SIDEWAYS :

SUPPORT      :  6150 & 6100

RESISTANCE:   6240 & 6280

DAILY MARKETS TREND :

  • Sensex ends down 210 points on concerns over rate hike, Fed tapering.
  • Torrent buys Elder Pharma’s formulation biz for Rs 2000cr; stocks tank.
  • Jet Airways hits 21-month low.
  • KEC International bags orders worth Rs 7.56 bn.
  • CIL FPO unlikely; may mull spl dividend on Monday.

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Source : Stock Market News

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