Nifty outlook for 20-12-2016.

Nifty started the week on weaker note ended lower down by 35 points closed at 8104 level, also index closed below 20 DMA, indicate index has lost the support level. If today once again Nifty closed below 20 DMA, then most likely we can see a new low for the month. Technically nifty started making lower low pattern also it has closed below the 20 DMA. Nifty is having a strong support of June month low and trading above the same, airs relief session for the investor. For bulls to resume Nifty must closed above 8380 level, on the flip side 7920 will act as a strong support level.

For today, any trade below 8095 level, index can fall towards 8000 level, where one can used as an opportunity to buy Nifty with 7920 SL on closing basis.