Intraday market outlook for 1 December

On 1December, Nifty fut will face resistance at 5055 level, if markets manage to cross and sustain above this level then we can see Nifty fut hadin towards5075-5098-5135 levels. However, one should remain cautious at higher levels , as major hurdle on upside will be 5080 level, this level will be very crucial for bulls to retain their gains. Failing to cross this level of 5080, bulls might loose energy and bears will attack decisively to tale charge over bulls. On lower side we have support at 5005 level, if this level is breached then markets can show lower levels of 4988-4945-4920. On lower levels 4980 will be crucial level to watch for further market action.

We recommend all traders to keep a sharp watch on range 4980-5080, as breakout of this range on eiter side will show some sharp moves in markets. In intraday, on upside 5080will act as a barrier, so all shorters must keep this level in mind and can use this as a stoploss, on the contrary bulls must keep watch on 4980 level for their positions. Dontn leverage positions without knowing the direction of markets, as that can make losses.

Nifty Levels
Resistance - 5055-5080-5098-5135-5160
Support - 5005-4988-4945-4920-4884

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