Markets are poised crucially after Huge Short-Covering triggered a 450 pts pullback in Nifty from previous week's low of 4630 Zone. Sustainability of this upmove at higher levels may prove difficult as the rally has been backed by low volumes & hence Markets may take a breather & witness side-ways movement.
Outcome of Euro Summit on 9th Dec would be very important trigger for Global markets.
Going Forward, Further Pullback upto 5290/5360 would be witnessed only if critical resistance area of 5168-5186 is crossed & Nifty Future closes above it but Use the upmove to reduce longs on every rise till 5186 is crossed.
If fails to cross above 5186, Will be in a Trading Range 4968-5186. Strong Support lies @ 4968-4976 & Selling pressure would intensify upto 4865/4749 only if Nifty Fut breaches & close below 4968.
Regards,
Team Market View Investments.
9987750901.
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