Tuesday, September 29, 2020

Technical Outlook, 29 September 2020

                                   


Nifty Technical Outlook, Positional & Intraday Trading Levels



Today, 11300 is the crucial intraday level for Nifty.
If Nifty trades above 11300, then it could test 10350 and above that level it could test 11400. 
Instead, if Nifty trades below 11300, then it could test 11230, and below that level it could test 11100.

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 11600, 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, 21750 is crucial for Intraday.
If Bank Nifty trades above 21750, then it could test 21900 and above that level it could test 22000.
Instead, if Bank Nifty trades below 21750, then it could test 21250 and below that level it could test 21000.

Short term Technical View of Bank Nifty
The level 22000 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 22000, then it could test 20000 in the downside.
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