#NIFTY View on the 14th of December.

In the last couple of days we saw weakness in the market  and index was retreating from recent gains. Today however we saw the index smartly recover from lows. However the volume was low.  Technically today’s Bar is a Successful “Test”.  But the overall market still shows  weakness. The declines were 63% compared to 39% advances. The points lost outnumbered the gain points. However the Buy volume was 61% compared to 39% sell volume.  Looks like Buying is concentrated on select stocks while the overall market lost.  Tomorrow the market may be propelled higher by the Gujarat exit polls.

#NIFTY View on the 6th December.

 The weakness in the Market is continuing.  The last two days the selling pressure had declined and there was some buying interest coming back in the NIFTY. However today the weakness has been reinforced.  Many supports has been broken and the next possible supports for the index are seen at 10020, 9810 and 9730.  The Market is likely to remain weak till the Gujarat election results and the outcome would decide the further way forward for the Market.