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Monday 19 December 2016

Nifty Spot View ( 19/12/16 - 23/12/16)f

Nifty respected the levels of 8270 on the upper side & 8070 on downside. Nifty is rangebound in the zone of 8270-8070.  A close above or below this range will open the gates for next zone.
On 20th Dec price & time may get squared with each other and we may witness a one sided movement. Levels to watch for supports are 8070-8049.
Nifty made a n inside bar on weekly charts. So, the view remains the  same.

On a broader view  the major worries will begin only & only if Nifty spot gives a close below 7910.
Till then every correction is a buy.

Major resistance levels are  8255-8255-8270, 8342, 8434-8442, 8510, 8600, 8640.
Major support levels are   , 8130, 8070, 7916,  7896, 7850,7833, 7715.

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