EquityPandit’s Outlook for Nifty for week (November 30, 2015 – December 04, 2015):

NIFTY:

Nifty ended the week on positive note gaining around 1.1%.

As we have mentioned last week that resistance for the index lies in the zone of 7950 to 8000 where short term moving averages are positioned. If the index manages to close above this levels then the index can move to the levels of 8200 where 100 Daily SMA is lying. During the week the index manages to hit a high of 7959 and virtually end the week around the highest levels.

Support for the index lies in the zone of 7800 where 100 Weekly SMA is lying. If the index closes below this levels then the index will drift to the levels of 7700 where 500 Daily SMA and trend-line support for the index is lying.

Resistance for the index lies in the zone of 8000 where short term moving averages are positioned. If the index manages to close above this levels then the index can move to the levels of 8150 where 100 Daily SMA is lying.

Broad range for the week is seen from 7800 on downside to 8200 on upside.