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Sunday, December 15, 2019

Looking Forward - Week 51

We expect index to post intraday resistance in the range of 41300 - 41500 +/- 100 points and may come down to retest its support at 40900 +/- 100. This will be week 50 resistance now acting as Week 51 support. If the index survives its resistance then we may see 41900 +/- 100 as immediate market top. Taking a correction means target may be delayed. Increased foreigner selling may expose the index to winter slump which will  provide accumulation opportunity to patient investors. Overall, market looks good for Year 2020. 

Wish you happy and profitable trading. 

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