Nifty Weekly Analysis ahead of Dec Expiry 2013

Last week Chopad level of 6187, Nifty did 1 target on downside and 2 target on upside. Last Week  was roller coaster ride for Stock market traders/investor as Fed did the taper and RBI kept the rate unchanged, Both events took the market participants by surprise.The market may remain volatile and trade in a range as we head into FNO expiry trading week. FII flows will be closely watched as we approach last week of the calendar year and NAV adjustments are likely to take place.Stock market remains closed on Wednesday, 25 December 2013, on account of Christmas.

Nifty Hourly Chart

Nifty Hourly charts  are forming a contracting range, Maket are likely to remain range bound in coming week and should give directional move in January. As most of FII's are on leave so volumes will come down and choppy moves will be call for next week.

 

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