Wednesday, December 18, 2019

MARKET UPDATE OF 18 DEC 19

TODAY'S MARKET UPDATE !!!!

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Federal indirect tax body, the Goods and Services Tax (GST) Council, is likely to leave tax rates unchanged at its meeting on Wednesday and instead, will explore maximising the realisation of revenue by checking tax evasion,Nifty has been consolidating around 11,900-mark for a week. We believe Nifty is in an uptrend and has very strong support around 11,650-11,700. Any meaningful correction towards 11,800-11,850 is an opportunity to buy with support placed at 11,650. On the higher side, 12,200-12,300 is expected in the next few weeks. Private banking and IT stocks are expected to trade with positive bias.

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