Thursday, December 24, 2020

Technical Outlook, 24 December 2020

                                                                                    


Nifty Technical Outlook, Positional & Intraday Trading Levels



Today, 13660 is the crucial intraday level for Nifty.
If Nifty trades above 13660, then it could test 13720 and above that level it could test 13770. 
Instead, if Nifty trades below 13660, then it could test 13620, and below that level it could test 13500.

Short term Technical View of Nifty

For the short term, the level 13900 is crucial. If it sustains below this level, then it is likely to test 13000. 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, 30000 is crucial for Intraday.
If Bank Nifty trades above 30000, then it could test 30300 and above that level it could test 30600.
Instead, if Bank Nifty trades below 30000, then it could test 29700 and below that level it could test 29400.

Short term Technical View of Bank Nifty

Short term correction is likely in coming days

The level 31000 is crucial for Bank Nifty in the short term. As long as it trades above that level, a rally towards 32000 level is likely. Instead, if it could not sustain above 31000, then it could test 27500 in the downside.
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