Nifty Update on 03rd December 2021

Nifty has shown a trend reversal in the hourly time frame, breaking the critical level (17,350) and closing above on it. The daily trend is bearish, and the hourly trend is bullish, which creates confusion in intraday. You Guys need to understand both of the time frames to build your trade-in intraday. In a shorter time frame, the Index can move upside, but swings are messy because daily sentiment has not changed yet, and FIIS continues selling in the market.

SGX and India USD are trading on a flat note; the Current CMP is 17,419, a sign of a small gap or a flat opening.

Important support to watch in the Intraday is: 17,300 to 17,25
Important Resistance watch in the Intraday is: 17,500


Trade Accordingly.