Indian Stock Market View For December 22, 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  (4,693.15 )   +  148.95     +3.28 %

As I said, expect sharp rallies, Nifty rallied up by 148 points.For short term speculators , a break above 4708 may take Nifty to 4878.This is because Nifty will break the short term down sloping channel.Trade with tight stop loss.I advocate standing aside.