Nifty Spot Outlook for 06th Dec

NIFTY

In the previous session Nifty spot opened at 12071.25 , made a high of 12081.20 , made a low of 11998.75,   before closing at 12018.40

Had mentioned that long trade will get triggered for the day on sustaining above 12075 and short trade will get triggered for the day on sustaining below 12015. Nifty initially triggered our longt trade and took our stoploss. Nifty then reversed to trigger our short trade and again failed to complete any targets indicating indecisiveness.

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. 

Nifty has been trading with indecisiveness this week.

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 12050 to test 12075 - 12085 initially and sustaining above it we can see a further upmove till 12110 - 12135. Similarly breaking and sustaining below 11990 we can see a test of 11960 - 11950 initially and breaking and sustaining below it we can see a further correction till 11925 - 11900

Nifty Spot Levels for the day are

Long above 12050 for 12065 - 12085 - 12135 , SL 12025

Short below 11990 for 11975 - 11950 - 11900 , SL 12010

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.