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Praveen Pathiyil: Technical Commentary

The weekly Nifty technical outlook newsletter provides the following key points: 1) The Nifty gained 65 points and reclaimed the 8200 level, moving towards the 8420 resistance level supported by extension analysis on the weekly chart. 2) Momentum indicators such as RSI show a positive crossover, indicating bullishness. 3) Nifty may trade in the 8120 to 8420 range with a break above 8420 needed to build fresh long positions. Stocks to watch include Lupin, Asian Paints, HDFC and Infosys.

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Debashis Ghosh
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225 views

Praveen Pathiyil: Technical Commentary

The weekly Nifty technical outlook newsletter provides the following key points: 1) The Nifty gained 65 points and reclaimed the 8200 level, moving towards the 8420 resistance level supported by extension analysis on the weekly chart. 2) Momentum indicators such as RSI show a positive crossover, indicating bullishness. 3) Nifty may trade in the 8120 to 8420 range with a break above 8420 needed to build fresh long positions. Stocks to watch include Lupin, Asian Paints, HDFC and Infosys.

Uploaded by

Debashis Ghosh
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Date : 30.12.

2014

Technical Outlook Newsletter for Nifty

Praveen Pathiyil

in

Technical Commentary

Nifty Snapshot
Nifty Trend

The week started in strong note, Nifty gained around 65 points on yesterday and
reclaimed the 8200 level and now its on the way towards the 8420 levels.
Through extension (L-77230, H- 8626, and L-7961) on the weekly chart, we found that
Nifty is trading near 33.33% of extension at 8270 and moving towards 50% at 8424 level
indicates the positive sign.
Momentum indicators such as RSI (47.56, 45.05) has given a positive crossover,
indicating Bullishness.

Our Take: Nifty may trade in the range of 8120-8420 odd levels. A fresh long may get build
up only after a break out of 8420level.

DISCLAIMER

UP

Short Term

UP

High / Low Probability


High

8410

Low

8190

Pivot for the day

Stock to watch out: Lupin, Asian Paint, HDFC and INFY.

This newsletter contains analysis and views on Nifty from Praveen Pathiyil
(Founder - Technical Outlook) and his team. The views are based on the basis Action
of technical studies and tools. Praveen Pathiyil / Technical Outlook Pvt.Ltd.
Entry 1
does not in any of his/its publications take into account any particular
recipients investment objectives,nancial situation,and specic needs and
demands.Therefore,all technical outlook publications are,unless otherwise
Entry 2
specically started,intended for informational and/or marketing purposes
only.Technical Outlook shall not be responsible for any loss arising from any
StopLoss
investment based on a perceived recommendation.No publication (including
recommendations) shall be construed as a represantation or warranty that the Target 1
recipient will prot,nor avoid ustaining losses, from trading in accordance with
a trading strategy set forth in the publication. To read full disclaimer kindly click Target 2
here.

Intraday

Todays Action

Resistance 2

8310

Resistance 1

8277

Pivot Point

8246

Support 1

8213

Support 2

8181

BUY (FUTURES)
8340
8330
8300

Averages
50-SDMA

100-SDMA

8272

8093

Nifty Strength

8380

Bulls

Bears

8390

60%

40%

Contact us @ 022 67000557 Write to us at [email protected] www.technicaloutlook.in

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