Friday, October 16, 2020

Technical Outlook, 16 October 2020

                                             


Nifty Technical Outlook, Positional & Intraday Trading Levels



Today, 11750 is the crucial intraday level for Nifty.
If Nifty trades above 11750, then it could test 11800 and above that level it could test 11850. 
Instead, if Nifty trades below 11750, then it could test 11650, and below that level it could test 11600.

Short term Technical View of Nifty

For the short term, the level 11800 is crucial. If it sustains below this level, then it is likely to test 11250. Instead, if it trades above 11800, then it is likely to test 12150.


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, 23000 is crucial for Intraday.
If Bank Nifty trades above 23000, then it could test 23200 and above that level it could test 23450.
Instead, if Bank Nifty trades below 23000, then it could test 22750 and below that level it could test 22400.

Short term Technical View of Bank Nifty
The level 23600 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 23600, then it could test 21000 in the downside.
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