Nifty Intraday Outlook For Monday 13-Dec

Technically the market has generated a trend reversal pattern and so we could see an up move as long as the market manages to stay above 5,760 levels.

The crucial support on the downside for the Nifty is 5,760 and resistance at 5,955-6,100. For Sensex, the crucial support on the downside is at 19,200 and resistance at 19,855 for next trading day on Monday.

Market Technical Views For 10-Dec

For the next intraday trading session, the cautious undercurrent in the market is expected to continue. Nifty closing below 5,690 and Sensex closing below 19,000 may indicate bearish market. 18,950 / 5,690 which may act as a crucial support level for coming trading session. On the upside, 19,400 / 5,810 levels may act as resistance for the day. Auto, Real-Estate and Banking heavy weights may face heavy selling pressure while selected IT and Pharma stocks may show strength. However, traders are suggested to follow the strategy of selling at rise for intraday.

Nifty Intraday Outlook For Tomorrow 09-Dec

For Intraday tomorrow, the level of 5885 and 5860 may act as a major support for the market and the level of 5940 and 5970 may act as a major hurdle. Market may remain highly volatile; Auto and IT may attract selling pressure.

The Short term trend will turn positive above the level of 5930.

“Spot Levels” Day trader can go long on nifty above 5940 with stop loss 5910 for target 5970 / 5995 and can go short below 5885 with stop loss 5915 for target 5860 / 5830.

Index Range and Trading Levels

Nifty: 5903.70
Range: 5830-5995
Resistance: 5940-5970-5995
Support: 5885-5860-5830

Bank Nifty: 11460.20
Range: 11280-11625
Resistance: 11520-11570-11625
Support: 11405-11350-11280