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Tuesday, December 08, 2020

Technical Outlook, 08 December 2020

                                                                         


Nifty Technical Outlook, Positional & Intraday Trading Levels



Today, 13350 is the crucial intraday level for Nifty.
If Nifty trades above 13350, then it could test 13400 and above that level it could test 13430. 
Instead, if Nifty trades below 13350, then it could test 13250, and below that level it could test 13150.

Short term Technical View of Nifty

For the short term, the level 12000 is crucial. If it sustains below this level, then it is likely to test 11700. Instead, if it trades above 12000, then it is likely to test 13500.


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, 30300 is crucial for Intraday.
If Bank Nifty trades above 30300, then it could test 30400 and above that level it could test 30550.
Instead, if Bank Nifty trades below 30300, then it could test 30000 and below that level it could test 29850.

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 30000 level is likely. Instead, if it could not sustain above 23900, then it could test 23000 in the downside.
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