Last week above 12040 Nifty did our 2nd weekly target. The Index ended the week with 141 points gain.
In the coming week, Nifty Index will complete the critical time cycle point. Additionally, the last week GDP numbers & In the following week OPEC meeting will be the watch out events for the traders.
Nifty Hourly Chart
As per the Nifty hourly chart, Bulls need to trade above 12100 for the up move towards 12150/12240.
On the other hand, Bears will get strength below 11990 for the move towards 11940/11850 levels.
Nifty Daily Chart
In the coming day’s Nifty bulls need to trade above 12180 for a rise towards 12240/12320.
The primary Support on the lower side is around 11990, any close below that can trigger fall towards 11940/11800 levels.
Nifty Weekly Chart
Nifty Weekly Trading View 02-06 Dec Week
Last week in this section of Nifty Weekly Trading View, we discussed. The view as per the weekly chart is still the same; above 12040, we can see Index smooth upside.
Above 12040 Nifty made the high around 12158 levels, more than 100 points gain. We can see further upside towards 12270/11390 ranges.
In the forthcoming week, 04th & 06th Dec are the critical dates.
Nifty Weekly Trading Levels
Next week 12120 will act as Resistance above which move towards 12180/12270/12400 can seen.
While Support is likely to come at, 11990 below that move towards 11930/11840/11710 can be seen.
Note: Above mention price projection & other Information are for educational purpose only.