Nifty view for 8-12December

The current scenario gives a glimpse of worldwide meltdown share markets. All global markets are facing downtrend,but this downtrend can be taken as an golden opportunity to earn unlimited profits in coming time. As the probability of getting upside in medium-long term increases with every downside from now. We can expect an upside of 30-40% in year or even less than this. The current scenario will yield stock specific downside/upside, so investors can invest in fundamentally strong stocks for long term and they will surely get good returns. However,investing in weak &non-fundamental stocks is not recommended,as that can end up in stucking your money.

In the coming week,we can see market sentiments somewhat positive due to the rate cuts,petrol price cut etc. . But one should be aware that these market sentiments dont have a long lasting impact,these only create a momentary effect, so one should rather go on market levels than going on sentiments.

In coming week nifty has support at 2680-2665, if this level is breached we can see lower levels on nifty. However on upside nifty has resistance at 2775-2825, crossing and sustaining these levels,nifty can spurt to 2880-2910+ levels. Our advice is to book profits at every rise,until nifty crosses and sustains above 2910 level. Nifty range for the week 8-12 December is 2665-2825, breakout &sustaining on either side will lead to sharp movement.

Nifty levels-
Resistance- 2775-2810-2865-2910-2985
Support-2665-2630-2580-2540-2470

Stocks for the week-
Ansal infra
Praj Industries (Can hold also)
Unitech
SREI Infra
Rohit ferro (for medium/long term)
Gitanjali Gems (Can hold also) {we booked hugee profits in last week,still holding a part of that for short/medium term}



Note- Once the call starts trading above your buying price, keep buying price as stoploss & Keep booking partial profits at every rise and thenafter keep trailing with stoploss for further targets!! This strategy will always yield profits for you.
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