Nifty and Bank Nifty Technical Analysis for 18 Dec’13

Nifty as on 17 Dec’13– 6139.70 (-15.60)    Bank Nifty as on 17 Dec’13– 11208.65 (-164.30)

So finally, in today’s session we’ll see what market is reacting on the RBI Interest rate announcement. What we sense from the market is gradually Nifty has shifted its based towards downside, but move is so minuscule that we can’t confidently bet that Nifty will test 6070 levels, because last sessions move can prove as false move also, you can’t say. Similar situation happens in Bank Nifty.

Trading market at this juncture become little tricky, so if you follow some pivot trading strategy than follow strictly. Still we are hoping some rebound in the Nifty, let’s see, how it unfolds.

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

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