Nifty Spot Outlook for 19th Dec

NIFTY

In the previous session Nifty spot opened at 12197.00 , made a low of 12163.45 , made a new life time high of 12237.70   before closing at 12224.60

Had mentioned that long trade will get triggered for the day on sustaining above 12195 and short trade will get triggered for the day on sustaining below 12135. Nifty triggered our long trade and completed 2 targets

For this week :

Those who are looking to enter fresh longs should wait for Nifty to sustain / close above 12160 and then enter for a initial target of 12230 - 12250 and look to hold further only on sustaining or getting a close above 12250 for the next targets of 12310 - 12380. 

&

Those who are looking to enter fresh short should wait for Nifty to sustain / close below 12015 and then enter for a initial target of 11945 - 11925 and look to hold further only on sustaining or getting a close below 11925 for the next targets of 11860 - 11795. 

Had mentioned in the previous post " Today Nifty broke and closed above 12160 and we can see a move towards 12230 - 12250 now. Those who have entered longs today can look to book once near 12230 - 12250 and re-enter on a close above 12250.", , and Nifty made a high of 12237.70 giving 75 points from the weekly long trade . Now if sustains above 12250 then can reenter for the next targets and use the intraday level stoploss for the trade.

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 failed to give a consecutive close below 11895 and did not confirm our monthly short trade and reversed strongly. 

As mentioned previously " Nifty has resistance for this week at 12130 - 12160 and for the month at 12160 - 12215 so if we sync both the weekly and monthly levels then 12160 - 12215 zone is going to be important for the uptrend continuation this month." , and today Nifty has above 12215 and we need a consecutive close now to hold longs for the initial monthly targets .

Nifty has immediate support for this week at 12045 - 12015 and sustaining / closing below it we can see it test its next strong support at 11945 - 11925.

Now in the coming session Nifty needs to break and sustain above 12255 to test 12285 - 12290 initially and sustaining above it we can see a further upmove till 12315 - 12345. Similarly breaking and sustaining below 12195 we can see a test of 12165 - 12160 initially and breaking and sustaining below it we can see a further correction till 12130 - 12105

Nifty Spot Levels for the day are

Long above 12255 for 12270 - 12290 - 12345 , SL 12235

Short below 12195 for 12180 - 12160 - 12105 , SL 12215

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.