Bears played strongly on the front-foot...

WEEKLY EQUITY BULLETIN FROM 20 DEC TO 24 DEC

Last week, BSE Sensex declined 1,774.93 points (3 percent) to finish at 57,011.74, while the Nifty50 fell 526.1 points (3 percent) to close at 16,985.2 levels. This is the first time the 50-stock index closed below the 17,000 mark since December 6. BSE Mid-cap Index shed 4.5 percent while BSE Large-cap Index fell 3 percent and BSE Small-cap index declined 2.7 percent. Except for Nifty IT (up 2 percent), all other sectoral indices closed in the red with the Nifty Realty index falling over 8 percent, Nifty Media down 8 percent, and Nifty PSU Bank index fell 7.7 percent.

Foreign institutional investors (FIIs) remained net sellers in this month till now, as they sold equities worth Rs 26,687.46 crore, while domestic institutional investors (DIIs) bought equities worth Rs 20,041.94. In this week, FIIs sold equities worth Rs 10,452.27 crore, and DIIs bought equities worth Rs 6,341.14 crore.

Nifty Future

On the weekly basis, the Nifty future has resistance around 17300, if it breaks and closes above 17300 will see an upside rally till 17600 and further to 17800 levels in upcoming trading sessions.

Major support around 16900, if it breaks & closes below 16900 will see sharp downside panic till 16700 and then to 17500 levels in upcoming trading sessions.

Intraday Levels

Nifty Future has resistance around 17150, breaks above 17150 will see intraday upside movement till 17250---17300 levels while Support around 17000, breaks below 17000 will see intraday sell-off till 16900---16850 levels on the Monday trading session.

Bank Nifty Future

On the weekly basis, Bank Nifty future has resistance around 36500, if it breaks and closes above 36500 will see an upside rally till 37300 and further to 37700 levels in upcoming trading sessions.

Major Support around 35400, if it breaks and close below 35400 will see downside fall till 34500 and further to 34100 levels in upcoming trading sessions.

Intraday Levels

Bank Nifty Future has resistance around 36100, breaks above 36100 will see an intraday upside movement till 36300---36450 levels while Support around 35600, breaks below 35600 will see intraday sell-off till 35400---35250 levels on the Monday trading session.

Weekly Top Pick Stock

Buy HCL TECH FUTURE above 1200 with a stop loss below 1160 levels for an upside movement till 1245----1265 +++ levels in days to come.

Buy KAJARIACER above 1250 with a stop loss below 1200 levels for an upside movement till 1290----1320 +++ levels in days to come. *T&C Apply...