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Monday, December 21, 2020

Technical Outlook, 21 December 2020

                                                                                 


Nifty Technical Outlook, Positional & Intraday Trading Levels



Today, 13770 is the crucial intraday level for Nifty.
If Nifty trades above 13770, then it could test 13800 and above that level it could test 13850. 
Instead, if Nifty trades below 13770, then it could test 13700, and below that level it could test 13650.

Short term Technical View of Nifty

A short term correction is likely from 13800-13850 levels

For the short term, the level 13900 is crucial. If it sustains below this level, then it is likely to test 13200. Instead, if it trades above 13900, then it is likely to test 14100.


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, 30450 is crucial for Intraday.
If Bank Nifty trades above 30450, then it could test 30600 and above that level it could test 30750.
Instead, if Bank Nifty trades below 30450, then it could test 30350 and below that level it could test 30200.

Short term Technical View of Bank Nifty

Short term correction is likely in coming days

The level 27500 is crucial for Bank Nifty in the short term. As long as it trades above that level, a rally towards 31500 level is likely. Instead, if it could not sustain above 27500, then it could test 23000 in the downside.
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