Nifty Spot Outlook for 16th Dec

NIFTY

In the previous session Nifty spot opened at 12026.40 , made a low of 12023.60 , made a high of 12098.85,   before closing at 12086.70

Had mentioned that long trade will get triggered for the day on sustaining above 11995 and short trade will get triggered for the day on sustaining below 11950. Nifty triggered our long trade and completed all targets and did 100 points. 

For this week :

Those who are looking to enter fresh longs should wait for Nifty to sustain / close above 12160 and then enter for a initial target of 12230 - 12250 and look to hold further only on sustaining or getting a close above 12250 for the next targets of 12310 - 12380. 

&

Those who are looking to enter fresh short should wait for Nifty to sustain / close below 12015 and then enter for a initial target of 11945 - 11925 and look to hold further only on sustaining or getting a close below 11925 for the next targets of 11860 - 11795. 

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 failed to give a consecutive close below 11895 and did not confirm our monthly short trade and reversed strongly. 

Nifty has resistance for this week at 12130 - 12160 and for the month at 12160 - 12215 so if we sync both the weekly and monthly levels then 12160 - 12215 zone is going to be important for the uptrend continuation this month.

Nifty has immediate support for this week at 12045 - 12015 and sustaining / closing below it we can see it test its next strong support at 11945 - 11925.

Now in the coming session Nifty needs to break and sustain above 12115 to test 12140 - 12150 initially and sustaining above it we can see a further upmove till 12170 - 12200. Similarly breaking and sustaining below 12060 we can see a test of 12035 - 12025 initially and breaking and sustaining below it we can see a further correction till 12000 - 11975

Nifty Spot Levels for the day are

Long above 12115 for 12130 - 12150 - 12200 , SL 12095

Short below 12060 for 12045 - 12025 - 11975 , SL 12080

We have a Telegram Channel under the name of Simply Trade Stocks where live trading ideas are shared. Those who wish to join can click on this link " https://t.me/simplytradestocks " and open it with telegram .

If you want to see the post in your Inbox , kindly register by adding your email id in  the 'Subscribe to my posts' section on the top right side of the blog. Also please give your valuable feedback by selecting the appropriate reactions box at the bottom of the post.

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.