Technical Outlook, 24 August 2020

          

Nifty Technical Outlook, Positional & Intraday Trading Levels

Today, 11350 is the crucial intraday level for Nifty.

If Nifty sustains below 11350, then it could test 11300 and below that level it could test 11200. 

Instead, if Nifty trades above 11350, then it could test 11400, and above that level it could test 11440

Short term Technical View of Nifty

For the short term, the level 11400 is crucial. If it sustains below this level, then it is likely to test 10800. Instead, if it trades above 11400, then it is likely to test 11800.

Medium term outlook of Nifty dated on 7 August 2020

The medium term outlook of Nifty would remain bullish if it sustains above 9900. Nifty is likely to move towards 12500.

Long term outlook of Nifty dated on 7 August 2020

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, 22200 is crucial for Intraday.

If Bank Nifty sustains below 22200 then it could test 22050 and below that level it could test 21800.

Instead, if Bank Nifty trades above 22200 then it could test 22450 and above that level it could test 22600.

Short term Technical View of Bank Nifty

The level 23200 is crucial for Bank Nifty in the short term. As long as it trades above that level, a rally towards 25000 level is likely. Instead, if it could not sustain above 23200, then it could test 21000 in the downside.

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