It was a very disappointing session on dalal street after yesterday’s Raghuram rajan boost to bulls. The day was started with gap up on the back of rally in global market but nifty slides sharply from day’s high due to worry about FII outflow; where nifty pared most of its yesterday gain and slipped to 6150 mark. At the end nifty closed at 6166 mark with cut of 0.8%.

1. NIFTY DAILY OUTLOOK
20th December 2013
SWASTIKA INTELLIGENCE GROUP
Daily Nifty Levels
Pivot: 6195
R1:6200
S1: 6145
R2: 6230
S2: 6120
R3: 6260
S3: 6070
MARKET SUMMARY:
It was a very disappointing session on dalal street after yesterday’s Raghuram rajan boost to bulls. The
day was started with gap up on the back of rally in global market but nifty slides sharply from day’s high
due to worry about FII outflow; where nifty pared most of its yesterday gain and slipped to 6150 mark.
At the end nifty closed at 6166 mark with cut of 0.8%.
CHART FORMATION:
 Nifty fails to follow yesterday bullish engulfing candlestick formation.
 While nifty is giving follow up of bearish engulfing candlestick formation on weekly chart.
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2. NIFTY DAILY OUTLOOK
SWASTIKA INTELLIGENCE GROUP
20th December 2013
 Nifty is moving in an upsloping channel formation where 6100 is upsloping trendline support.
 50-day SMA is placed at 6160 while 20-day EMA is placed at 6190 mark.
TECHNICAL INDICATORS:
 Momentum indicator RSI slipped from 50 mark while stochastic is still showing upside bias.
 CCI is trading at -48 mark while MACD is placed at 22 mark.
STRATEGY FOR TRADERS:
Nifty is showing weakness where 6120 is support to watch out; but trend is week where traders are
advised to sell on rise near 6195 mark with stop loss of 6210; mark any closing above 6200 mark will
be a positive signal.
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3. NIFTY DAILY OUTLOOK
SWASTIKA INTELLIGENCE GROUP
Report Prepared by
Santosh Meena
RESEARCH TEAM
Santosh Sahu
Amit Khare
Vishnu Shreekar
Sonakshi Bahety
Saloni Gupta
20th December 2013
Designation
Derivative & Technical Analyst
E-mail ID
santosh.meena@swastika.co.in
SWASTIKA INTELLIGENCE GROUP
Research Head
Commodity Analyst
Commodity Analyst
Research Associate
Research Associate
research@swastika.co.in
Santosh.sahu@swastika.co.in
amit.khare@swastika.co.in
vishnu.shreekar@swastika.co.in
Sonakshi.bahety@swastika.co.in
Salony.gupta@swastika.co.in
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