Tuesday, December 17, 2013

Nifty Outlook Dec 18th, RBI Meet

The downtrend seems secure and the bears are confident and happy. The share price is below the confirmation level and the signal is suggesting to STAY IN CASH.

Technically we are on right side currently, however tomorrow is RBI Policy Meet and market is poised to take direction. No rate hike can boost the sentiments as market is speculating rate hike again because of egoistic high inflection.

Yesterday's trend deciding level is 6186 which happen to be today's high.
Being weekly pivot support, 6080 is very strong support even if
RBI policy would be against market sentiments.

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