Nifty 50 Market outlook: 6th December
Nifty has did exactly as we anticipated. 24330 was to be tested before there could be a breakout. 24500 level was cleared today. Although there was huge volatility in the market the level was sustained. Market outlook for Nifty 50 on 6th December is now bullish and there is no need to take short setups. I can imagine two scenario's from here. First the market can either go sideways for one or two days and form a range. This range breakout can give us some bullish setup. Second can be that it opens gap up falls a little and then again recovers and move up slow and steadily. I am not hoping it to be super bullish. There can be high bullishness if there is a range formation then a small breakdown and then quick recovery. For short trades, the level would be 42330. the target would be small for short trades.
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