INDIAN STOCK MARKET VIEW FOR DECEMBER 19, 2011

DISCLAIMER: These notes/comments have been prepared solely to educate those who are interested in the useful application of Technical Analysis. While due care has been taken in preparing these notes/comments, no responsibility can be or is assumed for any consequences resulting out of acting on them.Trading in Stocks/Commodities/Futures Carry Risk.

S&P CNX NIFTY   4,651.60   -94.75      -2.00 %

Weekly Nifty is moving in a falling channel and continuously making lower bottoms and lower tops.Nifty tested the lows of 4638 and made a low of 4628.5.A close below 4628.5 will lead to a test of 4505, the lower channel.All speculative longs if at all taken tomorrow should be protected by a stop of 4628.5 So until Nifty breaks this upper channel and closes above the channel, long is not advised.

NIFTY WEEKLY CHART

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