5 December 2017

NIFTY PREDICTION & FREE NIFTY TIPS & CHARTS FOR 6 DEC 2017

"BUY BANKNIFTY FUTURE ABOVE 25250 TGT 25290/25320/25370 SL 25188"

Pull-back rally was there in the market on Tuesday. The Nifty50 remained rangebound throughout the day and ended the session on a flat note. Both the indices Nifty future & sensex closed marginally lower as investors adopted a cautiou ahead of the Reserve Bank of India’s policy decision tomorrow 6 Dec 2017 Market is expected to remain rangebound as all eyes would be on the much awaited RBI policy decision. The RBI’s two-day monetary policy review kicks off today and the decision is due tomorrow. The Street largely expects the central bank to maintain status quo on rates, on account of various factors. Also lower FY18 economic growth forecast by Fitch Ratings and ABP News CSDS opinion poll indicating tough fight for the BJP in Gujarat also dampened market sentiment.

As of now what we can expect is a technical pullback only. Resumption of upmove shall occur only once the Nifty moves past the levels of 10230 -10250. Until this happens, while completely avoiding shorts, we continue to recommend keeping exposures moderate and adopting a cautious view on the market.  Stepping into trade for Wednesday, the levels of 10200 -10225 will continue to pose immediate resistance for the nifty future, while the levels 10050-10025 will stand as important and critical supports in event of any weakness. 
DAILY RESISTANCE FOR NIFTY: 10180, 10225, 10250
PIVOT POINT: 10125DAILY SUPPORT FOR NIFTY:  10075, 10050, 10025

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