Nifty Update for Week December 15-19 - Inder Bhatia

Buy GATEWAYDISTRIPARKS 83.50 TGT 89>96 STOPLOSS 81.

Buy BRFL above 134 TGT 141>157 Stoploss 129.

Last week Nifty surged by 7.62 percent with significant gains. Inflation data was released on Thursday 8 percent for the week ended November 29, 2008. The IIP data announced was negative but the market saw smart recovery from lower levels. For the coming session if Nifty touches 2945, it could test 3005-3037 levels. On the other side closing below 2840 it will touch 2775 -2721 levels.

The Indian market opened gap-down on weak global cues. Market recovered from the lows in the afternoon session and saw smart recovery, closing in the green zone. For the coming session if Nifty trades above 2945 it could test 2975-2991. On the lower side trading below 2847 levels it can test 2810-2790 zone.