Sunday, 22 December 2019

Nifty Spot Outlook for 23rd Dec

NIFTY


In the previous session Nifty spot opened at 12266.45 , made a low of 12252.75, made a new life time high of 12293.90   before closing at 12271.80

Had mentioned that long trade will get triggered for the day on sustaining above 12285 and short trade will get triggered for the day on sustaining below 12235. Nifty triggered our long trade but could not complete any target indicating indecisiveness. 

After such a strong upmove a few days of sideways to slightly negative move can be seen in the coming sessions.


For this week :

Those who are looking to enter fresh longs should wait for Nifty to sustain / close above 12335 and then enter for a initial target of 12400 - 12415 and look to hold further only on sustaining or getting a close above 12415 for the next targets of 12470 - 12535. 

&

Those who are looking to enter fresh short should wait for Nifty to sustain / close below 12210 and then enter for a initial target of 12145 - 12130 and look to hold further only on sustaining or getting a close below 12130 for the next targets of 12070 - 12010.




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 confirmed its monthly long trade and we can see a move towards 12345 - 12425 next. Bank Nifty is yet to confirm its monthly long trade and has to close strongly above 32380 in the coming session .


Nifty has immediate support for this week at 12235 - 12210 and sustaining / closing below it we can see it test its next strong support at 12145 - 12130.





Now in the coming session Nifty needs to break and sustain above 12295 to test 12320 - 12325 initially and sustaining above it we can see a further upmove till 12350 - 12370. Similarly breaking and sustaining below 12250 we can see a test of 12225 - 12215 initially and breaking and sustaining below it we can see a further correction till 12195- 12175


Nifty Spot Levels for the day are

Long above 12295 for 12310 - 12325 - 12370 , SL 12280

Short below 12250 for 12235 - 12215 - 12175 , SL 12265



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.

No comments:

Post a Comment