Nifty Weekly Technical Analysis for week 12 Dec

Nifty was  down 3.8% during the week after the government lowered the full year Gross Domestic Product (GDP) growth target below 8% worst in past 4 years also acknowledged that meeting the fiscal target would also prove to be a challenge and it will get to atleast 5.4% instead of 4.5%.

The deepening debt crisis in Europe and the lack of solution thereof, rising inflation and slowdown in growth in India and policy paralysis in the government have spooked stock markets and contributed to the increasing volatility.

We have slew of economic data next week with IIP DATA on Monday,Monthly Inflation data on Wednesday and RBI Quarterly review on Friday, these data will keep market on it toes and volatility will be the name of game.

 

On Technical aspect we had discussed 2 possibility last week Weekly  Analysis

1. Nifty Trend deciding level 5020 and below it Nifty went 178 points lower as soon as it starts trading below it.

2. Gap Filling between....



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Rgds,
Bramesh
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http://www.brameshtechanalysis.com/

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