Nifty & Major Indices Below 200 Day Moving Average

♨️Nifty,Bank Nifty & Many Major sectorial Indices are Trading Below 200 DMA.

♨️On Friday Brent crude oil slipped another 6% to $59.Crude near 52 week low.

♨️The Major concern Is even after almost 30% Correction in crude oil prices & Rupee strengthening, Index & Major sectorial indices were not able to cross Major Resistance & 200 Day Moving Average.

♨️Next few sessions are important for markets.How Global news flow pan out and Markets are waiting for Few major events.

Major events lined up in December:

G-20 MEET

TRUMP- XI GLOBAL MEET

BANKING POLICY

FED MEET

STATE ELECTIONS & RESULTS

♨️How state election results pan out would give Futher direction to markets.

♨️There are high chances of BJP winning in 2 or 3 states.Rajasthan can be a suprise for them.

♨️If BJP wins markets would rally at faster pace and can Test 11000/11200 levels and if BJP losses than markets can Correct Till 10200 or can even Test 10000 levels.

♨️Currently markets are ignoring many positive Development ,which can be visible in long term as crude is near 52 week low.Dollar getting weak & Rupee strengthening.Inflation to ease.Bond Yields expected to get softer going forward.Trade defecite to come down.

Currently Nifty support @ 10500/10440/10400.

Resistance@ 10700/10770/10890.

Nifty Below 200 DMA

Bank Nifty Below 200 DMA

All Following Index are Trading Below 200 DMA

IT Index

Metal Index

Midcap Index

OIL & Gas Index

Realty Index

Auto Index

MNC Index.

Stock specific action to continue.

Disc – All views expressed are for Educational and study purpose only

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