Sunday, 1 December 2019

Nifty Spot Outlook for 02nd Dec

NIFTY


In the previous session Nifty spot opened at 12146.20 , made a high of 12147.40 , made a low of 12017.40,   before closing at 12056.05

Had mentioned that long trade will get triggered for the day on sustaining above 12175 and short trade will get triggered for the day on sustaining below 12125. Nifty triggered our short trade and completed all targets giving 100 points .



For this week :

Those who are looking to enter fresh longs should wait for Nifty to sustain / close above 12135 and then enter for a initial target of 12215 - 12235 and look to hold further only on sustaining or getting a close above 12235 for the next targets of 12305 - 12380. 

&

Those who are looking to enter fresh short should wait for Nifty to sustain / close below 11980 and then enter for a initial target of 11900 - 11875 and look to hold further only on sustaining or getting a close below 11875 for the next targets of 11810 - 11730. 



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 has immediate resistance at 12155 - 12215 in the coming sessions and on getting a consecutive close above it we can see a move towards 12345 - 12425 next.

On the downside Nifty has immediate support near 12010 - 11980 in the coming sessions and on getting a strong close below 11980 we can see a down move towards 11900 - 11875 levels .






Now in the coming session Nifty needs to break and sustain above 12085 to test 12115 - 12125 initially and sustaining above it we can see a further upmove till 12150 - 12180. Similarly breaking and sustaining below 12025 we can see a test of 11995 - 11985 initially and breaking and sustaining below it we can see a further correction till 11965 - 11935


Nifty Spot Levels for the day are

Long above 12085 for 12105 - 12125 - 12180 , SL 12065

Short below 12025 for 12010 - 11985 - 11935 , SL 12045



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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.

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