TECHNICAL OUTLOOK, 17 DEC

Nifty 6047.70

In the short term, if Nifty trades below 5900, then correction is likely to terminate around 5780. Instead, if it fails to move below 5900, then correction is likely to terminate above 5900. And also, Correction would be followed by a rally towards 6500. If Nifty trades above 6120, then it would confirm the termination of correction.

In the extreme short term, the level 6120 is crucial in the upper side. In the downside, if it trades below 5950, then it could decline towards 5900.

Today, if Nifty trades below 6080, then it is likely to test 5950.



Trading Strategy

Now the crucial levels are 5900 and 6120 for the extreme short term.








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