Nifty Spot Outlook for 10th Dec

NIFTY

In the previous session Nifty spot opened at 10644.80, made a low of 10599.35 ,  made a high of 10704.55,  before closing at 10693.70

Had mentioned that long trade will get triggered for the day on sustaining above 10635 and short trade will get triggered for the day on sustaining below 10565. Nifty triggered our long trade and did 70 points . 

For this week Nifty needs to break and sustain / close above 10785 to test 10880 - 10905 initially and above it we can see a test of 10985 - 11075 . Similarly Nifty needs to break and sustain / close below 10605 to test 10510 - 10485 initially and below it we can see a test of 10405 - 10315. 

As mentioned " For the month of December , longs in Nifty will get confirmed with a consecutive close above 11045 for a initial target of 11220 - 11265 and sustaining / closing above it we can see a further test of 11415 - 11585 . Similarly , shorts will get confirmed with a consecutive close below  10710 for a initial target of 10535 - 10490 and sustaining / closing below it we can see a further move till 10340 - 10170 . " , and Nifty has confirmed our monthly shorts for a initial target of 10535 - 10490 .

Now in the coming session Nifty needs to break and sustain above 10730 to test 10765 - 10775 initially and sustaining above it we can see a further upmove till 10805 - 10840. Similarly breaking and sustaining below 10660 we can see a test of 10625 - 10615 initially and breaking and sustaining below it we can see a further correction till 10585 - 10550 .

Nifty Spot Levels for the day are

Long above 10730 for 10750 - 10775 - 10840 , SL 10705

Short below 10660 for 10640 - 10615 - 10550 , SL 10685

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