Nifty and Bank Nifty Technical Analysis for 11 Dec’13

Nifty as on 10 Dec’13– 6332.85 (-31.05)    Bank Nifty as on 10 Dec’13– 11843.45 (-222.45)

We stopped writing about daily market outlook in last month or so. Meanwhile we received few mails making a complaint and few literally unsubscribed us, thought we are done. Honestly, we didn’t plan to disappoint anyone, but we thought, actually there is no meaning in giving daily write ups. Anyways, we are starting again, hope it make sense to few regular readers of our site. If you want to share your comments and view than please come ahead.

There is lot to talk about in the market other than market in itself. Should we call this move as emotional short term rally, based on sentiments alone, or do we have anything conclusive to cheer. Finally, Nifty made a new high, that’s it. Based on our understanding, actually there are only few winners in the market, and rest all are spectators and few stuck on the wrong side.

Rather, talking lengthier we come directly to the point, what you must be expecting from us. What next.

See, even though market corrected on Tuesday, but still Nifty seems in Euphoric mood, so this is not the position to take shorts, there are high chances that you stuck in that, but if you ask us to take long, than here also we are skeptical.  So, if at all we are forced to take long, than we like to go long above 6370 slightly above Tuesdays high, and Short below 6300 keeping stop of 6330.  We are not very sure to take directional call at this point in time.

Keep visiting Way2Profits, for genuine & unbiased Daily view on the Nifty and Bank Nifty.

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