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Friday, November 06, 2020

Technical Outlook, 06 November 2020

                                                        


Nifty Technical Outlook, Positional & Intraday Trading Levels



Today, 12130 is the crucial intraday level for Nifty.
If Nifty trades above 12130, then it could test 12210 and above that level it could test 12250. 
Instead, if Nifty trades below 12130, then it could test 12060, and below that level it could test 12030.

Short term Technical View of Nifty

For the short term, the level 11700 is crucial. If it sustains below this level, then it is likely to test 11250. Instead, if it trades above 11700, then it is likely to test 12300.


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, 26350 is crucial for Intraday.
If Bank Nifty trades above 26350, then it could test 26500 and above that level it could test 26700.
Instead, if Bank Nifty trades below 26350, then it could test 26200 and below that level it could test 26100.

Short term Technical View of Bank Nifty
The level 23900 is crucial for Bank Nifty in the short term. As long as it trades above that level, a rally towards 28000 level is likely. Instead, if it could not sustain above 23900, then it could test 23000 in the downside.
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