Nifty kicked off the trade today with a positive note, but was trading in a narrow range till 3 PM. Last 30 minutes of trade brought nifty back to day's high. Nifty closed at 12100, respecting the double top formation.
It has formed an inside bar, indicating further upside is possible only if it closes above 12132. Today 12132 in Nifty and 31975 in BN are crucial numbers to watch out. Strong support is seen at 12055/31735.
If Nifty holds 12100 till 1 PM, then we may see a new high. Let us celebrate this expiry as this is likely to close on a high note.
Option trades are suggested to members.
Warning: Nifty and BN are in buy and trading near ATH. Do not expect any big fall and think of PEs. Market knows when to correct and up to what level. Today's close will indicate the likely moves for the coming sessions.
BULLISH TREND LIKELY TO CONTINUE IN DECEMBER ALSO.
Good Day!
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