Market Outlook: 26th Dec to 30th Dec 2022. How will the year end

Markets are facing a tough time with rising COVID cases in China, recession fears in US and Europe and detection of Omicron BF7 variant in India too. Markets in India tanked more out of fear than anything else. In the process an important Fibonacci support has been broken by NIFTY which is not a good sign. Now this Fibonacci level will work as a strong resistance. However there 17768 and 17422 to 17472 can also act as strong support zones. Important supports and resistances now for Nifty are as under.

Important Supports: 17768, 17472 and 17422.

Important Resistances: 17901, 18013, and 18442.