Nifty futures tips outlook week december 19 2011

Nifty futures tips outlook week december 19 2011 : India’s benchmark indices fell off a cliff in the last hour of trade on Friday. The BSE Sensex came off 345 points from the high of the day and closed at 15491.35. The NSE Nifty hit a new 52-week low and ended at 4651.60. The losses were led by realty, capital goods and banking stocks. The Reserve Bank of India’s move to keep the key rates unchanged couldn’t help the market revive.

RBI left the rates unchanged with Repo rate at 8.5%, Reverse Repo rate at 7.5%, CRR at 6% and SLR at 24%. Reading from the RBI guidance, the million dollar line was that in view of slowing economic growth, monetary policy actions are likely to reverse the policy hinting at pressing the pause button and thinking of a rate cut in upcoming quarterly review on Jan. 24, 2012.

Outlook for the Nifty remains cautious and weak as it closed below 4,700 and Nifty has resistance at 4,725 and 4,790 while the support is there at 4,600 and 4,565 levels. On the sectoral front, we saw heavy offloading in capital goods, realty, banking, power and metal stocks. As rupee recovered today, we saw minor selling in IT stocks

Nifty Technical Levels for Monday Tomorrow 19 December 2011
Pivot Level = 4701.7
Support1 = 4585.4 Resistance1 = 4767.9
Support2 = 4519.2 Resistance2 = 4884.2
Support3 = 4402.9 Resistance3 = 4950.4 For the latest updates on the stock market, visit Stock Market Today

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