NIFTY Technicals for the week 8th - 12th Dec.

Markets lost 1.5% in last week. Didnt meet our predicted targets .

We may see more pain in comming week.

Crude is touched levels of 40$ if this level is broken we will see crude at 30$ a barrel.

I see markets rangebounded in 2550 and 2720 range.

A bullishness is expected only above 2945 on NIFTY.

Monday we may see a bullishness in the begning as US markets were up over 3%.

Moving Averages (Simple) -

5 D	8 D	13 D	20 D	39 D	50 D	200 D
2700	2708	2687	2767	2917	3142	4255

One should go long above 2955 and short below 2680 .

Other Indicators -

- Volume (last/ 5 day average): 0 / 0 
- 5 day RSI: 50 - no indication.
- 14 day RSI: 43 - no indication.
- Williams % R(14): 64 (summation factor 100)
- Average Directional Index ADX: 24
- Average True Range ATR: 5 days - 127 .....14 days - 152

Support and resistance -

Previous resistance Previous support Weekly close 5 days highest high 5 days lowest low

2833 2503 2755 2833 2571

Fabinco Price Projection -

	0%	61.8%	100%	161.8%	261.8%
Up	2503	2707	2833	3037	3367
Dn	2833	2629	2503	2299	1969

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