Thursday, 12 December 2019

Nifty Spot Outlook for 13th Dec

NIFTY


In the previous session Nifty spot opened at 11944.30 , made a low of 11934 , made a high of 12005.5,   before closing at 11971.80

Had mentioned that long trade will get triggered for the day on sustaining above 11930 and short trade will get triggered for the day on sustaining below 11890. Nifty triggered our long 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. 

&

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. 

Though Nifty broke above 12000 it failed to give a close above 11980. 

Nifty has resistance for this week at 11960 - 11980 and now support at 11865 - 11825


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 had given a close below 11895 yesterday but failed to give a consecutive close below it today to confirm monthly shorts . 


Nifty has immediate resistance at 11960 - 11980 and above it at 12155 - 12215 for this month .

Today Nifty tested 12000 but closed within its resistance zone of 11960 - 11980 .



Now in the coming session Nifty needs to break and sustain above 11995 to test 12015 - 12020 initially and sustaining above it we can see a further upmove till 12040 - 12065. Similarly breaking and sustaining below 11950 we can see a test of 11925 - 11920 initially and breaking and sustaining below it we can see a further correction till 11905 - 11880


Nifty Spot Levels for the day are

Long above 11995 for 12005 - 12020 - 12065 , SL 11980

Short below 11950 for 11935 - 11920 - 11880 , SL 11965



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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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