Last week of the year- how will Nifty adieu 2015
WISH ALL READERS OF THIS NEWSLETTER A VERY HAPPY, HEALTHY AND WEALTHY 2016
World over traders seem to be enjoying holidays. Lacklustre trading activity in most markets. Markets are heading nowhere.
How do we trade Nifty this week?
Technical Overview: Last week Nifty made high of 7888 and low of 7733. A range of 155 points with a narrow green candle. Last week Nifty headed upward, but with low conviction, as the volumes were low.
Last week I had said that Nifty might trade within a range. I expect same range to continue till the time markets gain volumes.
Nifty has resistance near 7922-7980 and support near 7540. If Nifty breaks 7980, then expect it to travel to 8230.
Check the influence areas (supports and resistance on chart below)
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