NIFTY -PRE-MARKET STUDY FOR 16 DECEMBER

Nifty fell down from 5125 level to 5020 approx.After about two weeks,nifty future First time broke the rangebound and came down 5018 level .A long waited fall has come true today.Now nifty is in over bought zone and a new expectation among trader is, it may fall further.In my view the nifty 20DMA today Is just 1-point less than yesterday i.e 5080 Vs 5079 respectively.Very negeligible change as far as DMA is concern. Tomorrow the nifty may open above the pivot and expected to touch 5097 and it may go up to the R1 Level.There is a hurdle for nifty in 5137,crossover with volume will lead nifty to 5173 level.

NIFTY TODAY
HIGH- 5129.45
LOW - 5018.25
CLOSE -5033.05

NIFTY TOMORROW
S 2-4949
S 1-4991
Pivot-5060
R 1-5102
R 2-5171

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TREND REVERSAL..May be possible.

There may be a change in nifty direction/trend.play safe while going long/short.if nifty trade above the 20DMA Avoid short.or keep 5090 as your stoploss.

The Global index's is not giving a clear cut direction/insights.As though the world index's shows the mixed cue's.