Nifty Future for Week Dec 22-26 - Rakesh Chandra

In last week's report it was mentioned that we are progressing to the upside 3170 area. The market behaved in the same manner but unexpectedly went way to the upside even if global clues were weak.

Nifty last week high touched 3116. Now we are merely 50-60 points away from the resistance zone. Book profit from long position and wait to see how its unfolding. Stock that did not participate in this rally could perform.

For longs, with stoploss of 3,063 next week, buy above 3,089.45. Next week up target 3,133>> 3,203>>> 3,247.

For shorts, with stoploss 3,089 next week short below 3,062.55. Next week lower target >3,019>>2,949>>>2,905.