Intraday market outlook for 9 December

On 9December, Nify fut have support at 5110 level, once this level is wiped off by bears we may see markets further going downwards till 5080-5065-5040 levels. However, till markets are above 5040 level, bears strength will be a bit weak. Any close below 5040 level, will only strengthen the bears for any downside slide in markets. Moving on upside, Nifty fut will face resistance at 5165 level, if bulls manage to sustain above this level then markets can move forward till the major resistance level of 5190. Once the major resistance level of 5190 is crossed and sustained bulls will get an energy booster to move to higher levels of 5208-5226-5265. Looking at whole scenario, the range for markets as also suggested by us in weekly view, will be 5040-5190.

We recommend all traders to keep a watch on 5110-5190 range for the intraday, breakover of this range will open doorsfor further market movement. All long/short positions must be hedged properly, as we may see some sharp ambiguous moves in market in coming days. Trading blindly or emotionally, might end up in losses.

Nifty Levels

Resistance - 5165-5190-5208-5226

Support - 5110-5080-5065-5040

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