Friday, January 29, 2021

Technical Outlook, 29 January 2021

  Nifty Technical Outlook, Positional & Intraday Trading Levels

Today, 13850 is the crucial intraday level for Nifty.
If Nifty trades above 13850, then it could test 13950 and above that level it could test 14050. 
Instead, if Nifty trades below 13850, then it could test 13750, and below that level it could test 13600.

Short term Technical View of Nifty

For the short term, the level 14650 is crucial. If it sustains below this level, then it is likely to test 13500. Instead, if it trades above 14650, then it is likely to test 14850.


Medium term outlook of Nifty 

Dated on 21 January 2021

The medium term outlook of Nifty would remain in corrective mode if it fails to sustain above 14850.


Long term outlook of Nifty 

Dated on 12 January 2021

A major correction in Nifty is over. The long term outlook of Nifty is looking bullish and it is likely to resume its bull trend in coming months after a 2000 points or 3000 points correction in the short term. Now, the level 11500 to 12500 will act as support for coming months. In the upside it can test 16000 in coming months after a correction.

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, 30150 is crucial for Intraday.
If Bank Nifty trades above 30150, then it could test 30600 and above that level it could test 30800.
Instead, if Bank Nifty trades below 30150, then it could test 29750 and below that level it could test 29250.


Short term Technical view of Bank Nifty
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 27000 in the downside.
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