Nifty Outlook for 01st Dec

 In the previous session:

Nifty went down by 81 points then went up by 62 points before closing higher by 33 points on Thursday 

Nifty made a new lifetime high of 20222.45 on 15th Sep 2023 from the lows of 7511.10 made on 24th March 2020

On 30th Nov:

Nifty initially triggered our short trade and completed 2 targets doing 35 points and took our TSL. Post that Nifty reversed to trigger our long trade and almost completed 2 targets doing 30 points

For 01st Dec:

Sustaining above 20160 can move towards 20180 - 20200 - 20250, SL 20140

Sustaining below 20105 can move towards 20085 - 20065 - 20015, SL 20125

In the Previous Week: 

Nifty traded sideways between our long and short trigger zone and did not give any directional move

Now for this week:

On the upside:

Nifty has to sustain and close above its weekly resistance at 19850 - 19885 to move towards its initial weekly long targets of 19985 - 20010

Closing above 20010 Nifty may move towards its last weekly long targets of 20090 - 20180

On the downside:

Nifty has to sustain and close below its weekly support at 19740 - 19705 to move towards its initial weekly short targets of 19605 - 19580

Closing below 19580 Nifty may move towards its last weekly short targets of 19500 - 19410

So far this week Nifty post triggering our weekly long trade above 19885 has made a high of 20158.70 almost completing all our weekly long targets till 20090 - 20180. Now trailing cbsl for the weekly long trade is 20010.

Now in the coming session Nifty sustaining above 200900 can move towards 20180 - 20200 to complete its weekly long targets. On the downside Nifty sustaining below 20105 has immediate support at 20065 - 20015.

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Disclaimer: I am not SEBI registered and these are my personal views and one should do their own research or consult a financial advisor 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