Nifty Spot Outlook for 12th Dec

NIFTY

In the previous session Nifty spot opened at 11867.35 , made a low of 11832.30 , made a high of 11923.20,   before closing at 11910.15

Had mentioned that long trade will get triggered for the day on sustaining above 11880 and short trade will get triggered for the day on sustaining below 11835. Nifty triggered our short trade and took our stoploss . Nifty then reversed to trigger our long trade and did 35+ points . 

For this week :

Those who are looking to enter fresh longs should wait for Nifty to sustain / close above 11980 and then enter for a initial target of 12040 - 12055 and look to hold further only on sustaining or getting a close above 12055 for the next targets of 12110 - 12165. 

&

Those who are looking to enter fresh short should wait for Nifty to sustain / close below 11865 and then enter for a initial target of 11800 - 11785 and look to hold further only on sustaining or getting a close below 11785 for the next targets of 11735 - 11680. 

Nifty had triggered our weekly short trade and sustaining below 11865 we saw a low of 11832.30 and a bounce to close above our cbsl of 11905 .

Nifty has resistance for this week at 11960 - 11980 and now support at 11865 - 11825

For this month :

For the month of December , longs will get confirmed in Nifty with a consecutive close above 12215 for a initial target of 12385 - 12425 and sustaining / closing above 12425 we can see a further move till 12570 - 12730 .  Similarly shorts will get confirmed with a consecutive close below 11895 for  a initial target of 11730 - 11685 and sustaining / closing below 11685 we can see a further move till 11545 - 11385 . 

Nifty had given a close below 11895 yesterday but failed to give a consecutive close below it today to confirm monthly shorts . 

Nifty has immediate resistance at 11960 - 11980 and above it at 12155 - 12215 for this month .

Today Nifty recovered to close above 11900 and now it can test its resistance at 11960 - 11980 as long as its holding above 11865 - 11825 zone .  

Now in the coming session Nifty needs to break and sustain above 11930 to test 11955 - 11960 initially and sustaining above it we can see a further upmove till 11980 - 12000. Similarly breaking and sustaining below 11890 we can see a test of 11865 - 11860 initially and breaking and sustaining below it we can see a further correction till 11845 - 11820

Nifty Spot Levels for the day are

Long above 11930 for 11945 - 11960 - 12000 , SL 11915

Short below 11890 for 11875 - 11860 - 11820 , SL 11905

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Disclaimer : These are my personal views and one should do their own research before entering any trades based on them  . The use of the blog is agreement that the blog is for informational and educational purposes only and does not constitute advice in any form in the furtherance of any trade or trading decisions.