Friday, December 9, 2011

Share Market Outlook and Nifty Levels for Monday

All the sectors remained negatively biased for the day and market extended its losses on the fourth consecutive day to close at extremely negative note. Government cut the economic growth forecast for fiscal 2012 and gave a statement that meeting fiscal targets would be a challenge which had the adverse effect on the market.
NSE index Nifty shed 77 points and closed at 4866.70 level while its future derivative settled at 4882.25 after losing 74.35 points.
Today Nifty even moved below 4,850 which could create a big selling panic but soon the market took a pullback and to gain a bit stability.
The negative trend seen during the week may prevail on coming trading session also. Nifty futures if trades below 4850 level, it may drop down to 4800 level. However a move above 5039 would support the bull and we can expect some upside after this level. Trading range for nifty is 4800-5100.

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Posted By Commodity MCX Tips