NIFTY View

Nifty View: December 12 and Ahead

Nifty Spot - Daily Chart
6200 is a strong support for the NIFTY as it coincides with the previous swing high, the unfilled gap and the 20EMA. As long as 6200 spot holds, traders can go long on Nifty FUT or buy Call options and hold for the month. If 6200 breaks, expect a sharp 50 point fall to 6150. Though the medium term will still remain bullish, the short term strength will be broken. For medium term, NIFTY is bullish as long as it sutains above 5970 levels. The upside targets from the current levels of 6240 are 6450-6500.
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