NIFTY Outlook / Market Outlook 05th Dec to 9th Dec 2022

Markets after making new high is looking for consolidation and support from where they can further launch ahead. US FED softening their stand on rate hike gave wings to global market but Jobs data from US and below expectation number of Indian GDP weakened the Bull run and turned the market negative. Another reason was profit booking by FIIs and other institutions.

Important supports and resistance for Nifty at this stage are:
Important Resistances: 18887 to 18904 and 19590.
Important Supports: 18604, 18360, 17908 and finally 17673 (Major Medium Term Support).