Weekly Outlook Indian Stock Market (21-24 Dec)

Weekly Technicals
High: 5157
Low: 4979
Close: 4988
5Ema: 5024

Nifty pretty much traded within the range as mentioned in last week's outlook but on Friday it broke the range to close at 4987.7

In the week ahead 5024 will determine nifty's fortunes. Trading above 5024 with volumes nifty future can move to 5068, 5080 and 5180.

For the coming week, last week's low EMA of 4945 will act as strong support. IF 4945 is broken with volumes, nifty future can move down to 4900, 4850 and 4800.

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