Nifty Spot Outlook for 04th Dec

NIFTY

In the previous session Nifty spot opened at 10930.70, made a high of 10941.20 ,  made a low of 10845.35,  before closing at 10883.75

Had mentioned that long trade will get triggered for the day on sustaining above 10910 and short trade will get triggered for the day on sustaining below 10845. Nifty triggered our long trade with a gap up and not give any entry today. 

For this week Nifty needs to break and sustain / close above 10960 to test 11045 - 11065 initially and above it we can see a test of 11135 - 11220 . Similarly Nifty needs to break and sustain / close below 10795 to test 10710 - 10690 initially and below it we can see a test of 10615 - 10535 

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 . 

Now in the coming session Nifty needs to break and sustain above 10915 to test 10945 - 10955 initially and sustaining above it we can see a further upmove till 10980 - 11010. Similarly breaking and sustaining below 10855 we can see a test of 10825 - 10815 initially and breaking and sustaining below it we can see a further correction till 10790 - 10760 .

Nifty Spot Levels for the day are

Long above 10915 for 10930 - 10955 - 11010 , SL 10890

Short below 10855 for 10835 - 10815 - 10760 , SL 10875

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