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Daily Technical View on Nifty

* Nifty rose for the second consecutive session on Dec 14, in line with most Asian markets that were up. After a volatile session, Nifty closed 0.28% or 52.3 points higher at 18660.3.

* BankNifty registered yet another new all time high at 44151

* Nifty Smallcap Index surpassed the previous swing high on the daily chart

* Broad market indices rose more than the Nifty even as the advance decline ratio was up at 1.35:1.

* Nifty has formed a Doji after a two day rise suggesting indecision ahead of the crucial US Fed meet which ends today.

* Band of 18696-18729 could offer resistance to the Nifty on the upmoves, while 18410-18490 band could offer support.

* Above 18729, Nifty could extend the rally towards new all time high

* Nifty is currently placed above its 20 days EMA, which indicates uptrend for the short term

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