#nifty directions and levels for DEC 8th

NSE:NIFTY   Nifty 50 Index
"Good evening, friends. Directions for December 8th: there is no significant difference from the last session. The global market sentiment is moderately bullish, supported by the Dow Jones. However, our local market sentiment shows a bullish trend. It might open with a neutral to slightly gap-up start.

We have an RBI monetary policy announcement tomorrow; the structure is not important here. The market might move based on the event. However, if the market experiences a pullback, it will likely reach the immediate resistance, a crucial zone. After that, if the market breaks it with a solid structure, then we can expect a pullback continuation. On the other hand, if it rejects that level, then the previous range will likely continue. The same applies to a downtrend. If the market finds support around the immediate support level, then the range will continue. However, if it breaks this level, we can expect correction continuation."


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