Nifty Outlook for 02nd Dec

  In the previous session:

Nifty went up by 129 points before closing higher by 54 points on Thursday

Nifty made a new lifetime high of 18816.05 on 30th Nov 2022 from the lows of 7511.10 made on 24th March 2020

On 01st Dec:

Nifty triggered our long trade with a big gap up near our last long target and did not give a  entry. Had shared revised levels on telegram by which we got a short trade which did 45 points and almost completed 2 targets

For 02nd Dec:

Sustaining above 18850 enter for 18870 - 18895 - 18960, SL 18825

Sustaining below 18775 enter for 18755 - 18730 - 18660, SL 18800

Now for this week:

On the upside:

Nifty has to sustain and close above its immediate resistance at 18575 - 18615 to move towards initial long targets of 18715 - 18750. 

Closing above 18750 Nifty may move towards next long targets of 18830 - 18930

On the downside:

Nifty has to sustain and close below its immediate support at 18450 - 18410 to move towards initial short targets of 18310 - 18280. 

Closing below 18280 Nifty may move towards next targets of 18190 - 18090.

So far this week Nifty made a low of 18365.60 breaking below our weekly support zone and bounced back sharply till 18887.60 almost completing our last weekly long targets of 18830 - 18930 and closed at 18812.50

Now in the coming session Nifty sustaining above 18800 can move to complete all the weekly long till 18930. On the downside Nifty has immediate support at 18770 and breaking and sustaining below it can move towards 18700 - 18650.

In case of a gap up beyond the first target then for fresh updated levels intraday follow 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.