Sunday 13 December 2020

Nifty Outlook for 14th Dec

 In the previous session : 


Nifty went up by 101 points then went down by 75 points before closing higher by 35 points on Friday as compared to the previous day's close. 







Nifty  made a new life time high of 13579.35 in this upmove from the levels of  7511.10  . 


On 11th Dec :

Nifty initially triggered our long trade and nearly completed all targets giving 75 points. Post that Nifty took our TSL and reversed to trigger our short trade and did 40 points completing 2 targets and again took our TSL. Overall Nifty indicated indecisiveness in the current uptrend.


For 12th Dec :
 
Sustaining above 13540 enter for 13555 - 13575 - 13620 , SL 13520


Sustaining below 13490  enter for 13475 - 13455 - 13410 , SL 13510


 

Now for this week :

Nifty has immediate resistance at 13555 - 13580 zone and closing above it we may see a further move towards 13650 - 13665 zone 

Nifty has immediate support at 13475 - 13450 zone and closing below it we may see a further move towards 13380 - 13365 zone . 

Now overall Nifty can face some resistance in 13555 - 13580 zone and if closes strongly above it then we can see a further upmove . Failing to close above it we can see it test its strong support at 13380 - 13365 zone.




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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