Nifty Outlook for 02nd Dec

 In the previous session : 

Nifty went down by 6 points then went up by 159 points before closing higher by 140 points on Tuesday as compared to the previous day's close. 

Nifty  made a new life time high of 13145.85 in this upmove from the levels of  7511.10  . 

On 01st Dec :

Nifty triggered our long trade and did 113 points. 

For 02nd Dec :

 

Sustaining above 13155 enter for 13185 - 13220 - 13305 , SL 13125

Sustaining below 13065 enter for 13035 - 13000 - 12915 , SL 13095

 

Now for this week :

Nifty has immediate resistance at 13045 - 13090 zone and closing above it we may see a further move towards 13215 - 13245 zone 

Nifty has immediate support at 12895 - 12850 zone and closing below it we may see a further move towards 12725 - 12690 zone . 

Nifty made a high of 13128.40 and closed at 13109.25 above the initial resistance zone indicating we can see further upmove towards the next resistance zone . Long should be cautious as we approach the next resistance as we can see some profit booking and a correction if resistance is taken.

Overall Nifty has stiff resistance at 13215 and unless we get a strong close above it we can see a correction on upmoves .

Incase we get a gap up beyond the 1st target then will update fresh levels as per pre opening on the telegram channel "simplytradestocks"

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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.