Nifty 50 scrips closed with positive note on 29th November 2019, tow-third of the scrips bullish and one third are bearish. The bias continues to remain positive.
First week of December is likely to be bearish where you can see profit booking and buy on dips are the strategies adopted.
Nifty recorded a low of 11867 on 18th November 2019, and there after it never looked back. The next higher low is 11883 on 22nd November 2019. The next higher low was 11919 on 25th November 2019. These three bottom numbers assume extreme significance and likely to protect Nifty unless any major event happens. The weekly average levels are hovering above this number. Therefore, 11867-883 is the strongest base where nifty should bounce back if it reaches that level.
You can continue your bullish bets as the nifty may continue its northward move after a brief correction or consolidation.
You will find the screen shot of the best trades of December posted in blog with the permission of my members.
Good Luck!
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