Monday, January 18, 2021

Technical Outlook, 18 January 2021

 Nifty Technical Outlook, Positional & Intraday Trading Levels

Today, 14400 is the crucial intraday level for Nifty.
If Nifty trades above 14400, then it could test 14500 and above that level it could test 14570. 
Instead, if Nifty trades below 14400, then it could test 14340, and below that level it could test 14200.

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 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 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, 32180 is crucial for Intraday.
If Bank Nifty trades above 32180, then it could test 32300 and above that level it could test 32400.
Instead, if Bank Nifty trades below 32180, then it could test 32000 and below that level it could test 31800.


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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