Nifty Spot Outlook for 03rd Dec

 In the previous session : 

Nifty went up by 19 points then went down by 125 points before closing higher by 4 points on Wednesday 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 02nd Dec :

Nifty triggered our short trade and did 81 points . 

For 03rd Dec :

 

Sustaining above 13160 enter for 13190 - 13225 - 13310 , SL 13125

Sustaining below 13065 enter for 13035 - 13005 - 12915 , SL 13100

 

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 13128.50 and closed at 13113.75 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.