Nifty May Consolidate Amid Mixed Global Cues & Fiscal Worries


Nifty May Consolidate On The Last Trading Day Of 2017 Amid Mixed Global Cues & Fiscal Worries,

But Set For Around 28% Gain For The Eventful Year With Lots Of Volatility

Market Mantra: 29/12/2017 (09:00)

SGX-NF: 10500 (-12)

For the Day: updated: 14:20

For 29/12/2017: Jan-Fut

Key support for NF: 10470/10430-10400/10350

Key resistance for NF: 10555/10575-10610/10650

Key support for BNF: 25400/25200-24950/24800

Key resistance for BNF: 25600/25775-25875/26050

Trading Idea (Positional):

Technically, Nifty Fut-Dec (NF)/NS has to sustain over 10575 area for further rally towards 10610/10650-10695 & 10745-10795 zone in the short term (under bullish case scenario).

On the flip side, sustaining below 10555 area, NF may fall towards 10470/10430-10400/10350 & 10285-10190 zone in the short term (under bear case scenario).

Technically, Bank Nifty-Fut (BNF) has to sustain over 25775 area for further rally towards 25875- 26050 & 26200-26325 zone in the near term (under bullish case scenario).

On the flip side, sustaining below 25725-25600 area, BNF may fall towards 25400/25200-24950 & 24800-24575 area in the near term (under bear case scenario).

Indian market (Nifty Fut-Jan/India-50) is now trading around 10535, edged up by almost 0.18% on mixed Global/Asian cues & domestic fiscal worries

SGX-NF

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