Our outlook for Nifty is that it must trade above 8105 with volumes in order for it to be bullish, in which case the resistance will be at 8140 and 8181. However if it does not manage to hold above 8105 convincingly then the supports are at 8051 and 8016. The day traders may trade accordingly on Dec 5.
For the short term traders, the resistance is at 8181 which if conquered will see Nifty target the next resistances which are at 8338 and 8424. On the flip side the supports are at 8044 and 7910.
The mid term investors may consider staying away for the time being.
Disclaimer: The writers of this column do not personally hold any stock or position in the F&O market and do not intend to benefit in any way by publishing this column. The final discretion is that of the reader and we disown any responsibility for any loss incurred by the reader.
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