Sunday 8 December 2019

Nifty Spot Outlook for 09th Dec

NIFTY


In the previous session Nifty spot opened at 12047.35 , made a high of 12057.05 , made a low of 11888.85,   before closing at 11921.50

Had mentioned that long trade will get triggered for the day on sustaining above 12050 and short trade will get triggered for the day on sustaining below 11990. Nifty initially triggered our long trade and took our stoploss. Nifty then reversed to trigger 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 11980 and then enter for a initial target of 12040 - 12055 and look to hold further only on sustaining or getting a close above 12055 for the next targets of 12110 - 12165. 

&

Those who are looking to enter fresh short should wait for Nifty to sustain / close below 11865 and then enter for a initial target of 11800 - 11785 and look to hold further only on sustaining or getting a close below 11785 for the next targets of 11735 - 11680. 

Nifty has resistance for this week at 11960 - 11980 .


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 for this month and on getting a consecutive close above it we can see a move towards 12345 - 12425 next.

As mentioned in the previous week "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 ." , and we saw Nifty make a low of 11888.85 on sustaining below 11980.

Nifty has immediate support for this week at 11885 - 11865 and sustaining / closing below it we can see it test its next strong support at 11800 - 11785.






Now in the coming session Nifty needs to break and sustain above 11945 to test 11965 - 11970 initially and sustaining above it we can see a further upmove till 11990 - 12015. Similarly breaking and sustaining below 11900 we can see a test of 11875 - 11870 initially and breaking and sustaining below it we can see a further correction till 11850 - 11830


Nifty Spot Levels for the day are

Long above 11945 for 11955 - 11970 - 12015 , SL 11930

Short below 11900 for 11885 - 11870 - 11830 , SL 11915



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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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