Tuesday 8 December 2020

Nifty Outlook for 09th Dec

In the previous session : 


Nifty went up by 80 points then went down by 45 points before closing higher by 37 points on Tuesday as compared to the previous day's close. 







Nifty  made a new life time high of 13435.45 in this upmove from the levels of  7511.10  . 


On 08th Dec :

Nifty triggered our long trade but  completed just 1 target and took our TSL.


For 09th Dec :
 
Sustaining above 13435 enter for 13455 - 13485 - 13560 , SL 13405


Sustaining below 13350 enter for 13330 - 13300 - 13230 , SL 13380


 

Now for this week :

Nifty has immediate resistance at 13325 - 13365 zone and closing above it we may see a further move towards 13475 - 13505 zone 

Nifty has immediate support at 13190 - 13150 zone and closing below it we may see a further move towards 13040 - 13010 zone . 

So far this week Nifty has made a high of 13435.45 nearly testing the next resistance zone . As long as it sustain above 13365 we can see a move towards 13475 - 13505 next. Resistance can be expected near 13475 - 13505 and some correction too

Overall too as long as Nifty sustains above 13215 we can see a move towards 13475 - 13540. Now Nifty has strong support at 13045 - 13010 on the downside and as long as it holds above 13000 on closing basis we can see dips being bought into.



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.

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