Nifty | Weekly Pre-Market Report | 16 Dec ~ 20 Dec '24

Nifty previous weeks candle has closed positively with the formation of a Bullish Pin bar.
The last trading session Daily candle closed again in a very Bullish manner signalling that Bulls have taken control in the immediate term.
As I mentioned in my last update on Friday, I have taken Long position overnight and am expecting Nifty to head towards 24,200 in this weeks expiry.

In case of flat opening or gap down opening, Nifty will continue to be in Buyers territory as long as 24,375 holds.

In case of a big gap up, I would advise taking fresh long position as 24,180 - 24,250 can be a strong resistance zone.

Those carrying overnight positions can book profits and exit around those levels and avoid being overly greedy!