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Wednesday, January 06, 2021

Technical Outlook, 06 January 2021

                                                                                          


Nifty Technical Outlook, Positional & Intraday Trading Levels



Today, 14150 is the crucial intraday level for Nifty.
If Nifty trades above 14150, then it could test 14210 and above that level it could test 14260. 
Instead, if Nifty trades below 14150, then it could test 14100, and below that level it could test 13900.

Short term Technical View of Nifty

For the short term, the level 14250 is crucial. If it sustains below this level, then it is likely to test 13500. Instead, if it trades above 14250, then it is likely to test 14500.


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, 31800 is crucial for Intraday.
If Bank Nifty trades above 31800, then it could test 32000 and above that level it could test 32200.
Instead, if Bank Nifty trades below 31800, then it could test 31500 and below that level it could test 31200.


Short term Technical view of Bank Nifty

The level 31800 is crucial for Bank Nifty in the short term. As long as it trades above that level, a rally towards 32500 level is likely. Instead, if it could not sustain above 31800, then it could test 30000 in the downside.
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