Market Outlook :
(27 Nov )
US market Closed
Asian market Positive
SGX NIFTY 17 points Up
Trend on SGXNIFTY indicates a Flat Opening for index.
Market view :
Market would open Flat.
Technically, Market is still in the positive zone.
Nifty has given sharp short covering as we mentioned in yesterday outlook.
But still Profit booking we can not be ruled out.
Nifty yesterday didnt give close above 13000 and closed @ 12986 level. Dec month closed @ 13045
If Nifty closed above 13075 then only upside trend confirmation will come.
Traders should initiate long positions only if Nifty trades above 13075 levels but until then there is a strong chance for the market to see some correction and it’s time for traders to wait for the confirmation.
Traders should keep trail stoploss in longs.
We can see reversal only below 12840( Nifty ) and 28600 (Banknifty )On closing basis.
Intraday level can help to take a trade in intra day set up.
Nifty : Bullish
Banknifty : Bullish
Nifty levels
Today's resistance
13075-13145
Today's support
12935-12840
Bank nifty levels
Today's resistance
29660-29815
Today's support
29410-29210
Market outlook view is just for educational purpose.
By: via @AlliesFin Serve Stock Market
