Nifty Spot Outlook for 11th Dec

NIFTY

In the previous session Nifty spot opened at 11950.50 , made a high of 11953.20 , made a low of 11844.70,   before closing at 11856.80

Had mentioned that long trade will get triggered for the day on sustaining above 11960 and short trade will get triggered for the day on sustaining below 11915. Nifty triggered our short trade and completed all targets giving 70 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. 

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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 triggered our weekly short trade and sustaining below 11865 we can see a test of 11800 - 11785. Those who are short should keep a cbsl of 11905.

Had mentioned previously that "Nifty has resistance for this week at 11960 - 11980 and support at 11885 - 11865" , and today Nifty broke and closed below its immediate support.

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 today given a close below 11895 and sustaining and closing below it will confirm our monthly short trade for a initial target of 11730 - 11685.

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.

Today Nifty broke and closed below its crucial support zone of 11885 - 11865 which it had been holding since 15th November . Now sustaining below it we can see a test of its next support at 11800 - 11785 . 

Now in the coming session Nifty needs to break and sustain above 11880 to test 11900 - 11905 initially and sustaining above it we can see a further upmove till 11925 - 11945. Similarly breaking and sustaining below 11835 we can see a test of 11815 - 11810 initially and breaking and sustaining below it we can see a further correction till 11790 - 11770

Nifty Spot Levels for the day are

Long above 11880 for 11890 - 11905 - 11945 , SL 11865

Short below 11835 for 11825 - 11810 - 11770 , SL 11850

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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.