Nifty Weekly Observation 15-Dec-2014

 
Nifty future hurdle 8375
Resistance 8440 8495
Support 8245 8165

As analysed and shared in previous weekly report the short term trend for market is down and its been a sell on rally since it broke the levels of 8550. This past week nifty future faced extreme selling pressure and closed the week at 8276.90 after making low 8266 just around the closing point of the week. This indicates further bearishness in the markets.

Now week starting Monday 15 Dec, 2014 Nifty future will face hurdle at 8315 and there after the major weekly hurdle 8375 on downside the supports at 8245 below which fresh round of selling shall begin for 8200-8165.

The momentum is in favor of bear’s for december series as of now, use rally’s to enter shorts or buy puts.