Wednesday, December 01, 2021

Technical Outlook, 01 December 2021

Nifty Technical Outlook, Positional & Intraday Trading Levels

Today, 17000 is the crucial intraday level for Nifty.
If Nifty trades above 17000, then it could test 17100 and above that level it could test 17250. 
Instead, if Nifty trades below 17000, then it could test 16900, and below that level it could test 16700.

Short term Technical View of Nifty

For the short term, the level 17400 is crucial. If it sustains below this level, then it is likely to test 16200. Instead, if it trades above 17400, then it is likely to test 17800.


Medium term outlook of Nifty 

Dated on 1 December 2021

The medium term outlook of Nifty would remain in corrective mode if it fails to sustain above 18500.


Long term outlook of Nifty 


Dated on 1 December 2021 ( Nifty 16983.20 )

The present rally from the low of march 2020 seems to be over. Nifty is likely to be in corrective mode for another 2 years. In the downside Nifty is likely to test 15000 initially. The view will be negated if Nifty trades above 18600.


Dated on 12 January 2021 ( Nifty 14484.75 )

A major correction in Nifty is over. The long term outlook of Nifty is looking bullish and it is likely to resume its bull trend in coming months after a 2000 points or 3000 points correction in the short term. Now, the level 11500 to 12500 will act as support for coming months. In the upside it can test 16000 in coming months after a correction.

Dated on 7 August 2020 ( Nifty 11200.15 )

A major correction in Nifty is over. The long term outlook of Nifty is looking bullish and this view holds good as long as Nifty sustains above 9000 and in the upper side it is likely to test 13000 in coming months.




Technical View of Bank Nifty 


Bank Nifty Intraday levels
Today,  is crucial for Intraday.35800
If Bank Nifty trades above 35800, then it could test 35900 and above that level it could test 36250.
Instead, if Bank Nifty trades below 35800, then it could test 35400 and below that level it could test 35000.


Short term Technical view of Bank Nifty
The level 36500 is crucial for Bank Nifty in the short term. As long as it trades above that level, a rally towards 38500 level is likely. Instead, if it could not sustain above 36500, then it could test 32000 in the downside.
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