Despite the Fed concerns market closed on th positive note on final trading session of the last week. Sensex hit the double century on Friday while Nifty also crossed the intraday resistance level of 6200. Oil and Gas, Real estate shares were among the major gainers of the last week while consumer durables, FMCG stocks were among the losers for the week. The Indian BSE Index Sensex surged around 2 percent and closed at 21,080 while the another one Nifty Index closed at 6274, up 108 points from it's previous close.
Weekly Nifty Outlook for Next Week from 23rd December to 27th December 2013
- Indian share market may continue the upside trend next week also. Technically the nifty has crossed the resistance level of 6250 but still it is not able to sustain the current levels. Nifty may trade in the range 6100-6340 next week.
- Technically NSE Nifty is expected to take support level at around 6150-6200 while resistance is seen at 6300-6370.
Nifty Trading Recommendations for Monday 23rd December 2013
- For Monday Bank Nifty is a buy call. Buy above 11305 with placing stop loss 11150 for the target 12,350-12,422.
- Buy Nifty Future around 6240-6260 zone with Stop loss 6200 and for target 6340-6380.
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