Markets cheered BJP's win in 3 out of 4 state elections and gave a gap up opening, but towards the end of the weekly session steep downside rally was witnessed, IIP slumped 1.8 per cent in October as against a growth of 8.4 per cent in the year-ago period ,The market fell further in early trade on last trading day of the week, tracking nervousness across the globe on worries of Fed tapering in the forthcoming FOMC meeting due next week. Rate hike fears too spooked market and currency . Nifty Dec Fut closed at 6208 down by 95.75 bps

For next week Nifty Dec Fut can continue to show bearishness as technically it is looking weak on Short term charts and has already tested its nearby support level 6180 and is also sustaining above its 10 and 50 days moving average, for coming session if it manages to breach its support level of 6180 nifty Dec Fut can test the 6038 and 5985 and on up side its major resistance level to watch is 6280 crossing of this can take nifty to higher levels

Stocks to watch on:

SAIL FUT:- Technically stock is looking very strong on charts, it has recently completed its rouding pattern on lower sides and is sustaining above its major resistance mark, and 10 and 50 days moving average, for coming sessions 69.60 is a crucial level one can take fresh long positions above the level of 69.60 for tgts of 72 and 73.85 with sl of 68.35

MAHINDRA AND MAHINDRA - Technically stock is looking bullish and trading with positive sentiments and facing strong support level at 925 if it sustain to trade above that and cross the resistance level of 955 fresh buying can be expected for the tgt of 975.