Nifty Outlook for 11th Dec

 In the previous session : 

Nifty went down by 130 points before closing lower by 50 points on Thursday as compared to the previous day's close. 

Nifty  made a new life time high of 13548.90 in this upmove from the levels of  7511.10  . 

On 10th Dec :

Nifty triggered our shorts trade and completed all targets giving 100 points.

For 11th Dec :

 

Sustaining above 13505 enter for 13520 - 13540 - 13590 , SL 13485

Sustaining below 13450  enter for 13435 - 13415 - 13370 , SL 13470

 

Now for this week :

Nifty has immediate resistance at 13325 - 13365 zone and closing above it we may see a further move towards 13475 - 13505 zone 

Nifty has immediate support at 13190 - 13150 zone and closing below it we may see a further move towards 13040 - 13010 zone . 

So far this week Nifty has made a high of 13548.90 breaking above our next weekly resistance and has taken some resistance at overall 13475 - 13540 zone for now. 

Had mentioned earlier that " Overall too as long as Nifty sustains above 13215 we can see a move towards 13475 - 13540. Now Nifty has strong support at 13045 - 13010 on the downside and as long as it holds above 13000 on closing basis we can see dips being bought into." , and we saw Nifty make a high of 13548.90 and close within the overall resistance range. Now it needs to sustain or close above 13540 for a further upmove towards 13760 - 13930 levels. If Nifty is unable to sustain above 13540 we may see profit booking take place .

Incase we get a gap up beyond the 1st target then will update fresh levels as per pre opening on the telegram channel "simplytradestocks"

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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.