Nifty Outlook for 01st Dec

 In the previous session :

Nifty went up by 270 points then went down by 122 points before closing lower by 70 points on Tuesday.

Nifty made a new life time high of 18604.45 in this upmove from the lows of 7511.10 made on 24th March 2020

On 30th Nov :-

Nifty initially triggered our long trade and nearly completed all targets doing 200 points and took our TSL. Post that Nifty reversed to trigger our short trade and completed just 1 target doing 40 points.

For 01st Dec :-

Sustaining above 17055 enter for 17100 - 17150 - 17280 , SL 17005

Sustaining below 16910 enter for 16870 - 16815 - 16680 , SL 16960

Now for this week :

Nifty has to break and sustain above 17145 - 17215 where it has its initial resistance for a further move towards 17415 - 17465 where it has its next resistance for the week

Nifty has to break and sustain below 16910 - 16840 where it has its initial support for a further move towards 16640 - 16590 where it has its next support for the week

So far this week Nifty has made a low of 16782.40 breaking below our initial weekly support and bounced back today till 17324.65 breaking above our initial resistance zone before correcting sharply to close below 17000 .  Now in the coming session Nifty has immediate support at 16780 which it needs to hold on dips else we may see a further dip towards 16650 - 16600. On the upside Nifty has immediate resistance at 17350 .

Nifty has to reclaim 17720 on closing basis for some signs of strength . 

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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.