MY VIEW

Today market closed in red.Technically in nifty chart higher bottoms and lower tops are formed.To my understanding ,I feel symmetrical triangle pattern may be formed in the chart in near future.

In symmetrical triangle there will be no clue about direction on which side breakout will take place.If my assumtion is correct, I feel the direction will be downside.Because the macro economic indicator are not good and as advance taxes decline ,corporate earnings will not be good.Even though inflation plunges and banks are cutting rates, unless global economy recovers, our trade cycle will be restrained from up move.Tommorows trading I feel traders participation will be less as new year I except a sideways trading.

Crucial support is 2524 and resistant is 3148.

A FRIENDLY TALK

"MY HAPPY PROFITABLE NEW YEAR WISHES"

I hope tommorow will be very busy day for all us.I usually visit "LORD RAGAVENDARER TEMPLE" which is in Bhuvanagiri near chidambaram, birth place of "LORD RAGAVENDRA ".Every year I go there to beg thy blessings which I feel like energy for survival.Let us enjoy new year and meet next year.

Thanks for visiting!