Stock market tips for tomorrow 14 Dec. 2016

Nifty future below 8285 remain sell on rise

Nifty future below 8285 remain sell on rise

Nifty future today closed at 8223. Nifty future is in downtrend and on Monday we saw low of 8163. Below 8285, nifty future remain weak and will face profit booking as well as fresh short addition on every major intraday rise. For tomorrow, nifty future intraday resistances as well as short entry zones are 8255 and 8290. On downside targets will be 8185 and 8140 will be nifty intraday target zones. Nifty positional traders keep stop loss above 8300 and expect downside targets of 8050 and then 7860 in month of December. Banknifty future remain sell below 19k

Banknifty future remain sell below 19k

Banknifty future today closed at 18490. Banknifty future also tried to recover and breakout above 19k levels. We saw high up to 18770 but profit booking as well as continues shorting adding pressure on index. These is also lack of buying in market which might eventually turn into bearish move ahead. For tomorrow, banknifty will remain sell on rise. On upside 18565 and 18650 are banknifty intraday resistances as well as fresh short entry zones. On downside, banknifty future intraday support zones as well as targets for short sellers are 18370 and then 18250. Positional banknifty future traders keep sell on rise view with strict stop loss above 19k and expect target 18100 and then 17700 in month of December.

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Pramod Baviskar

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