Technical Outlook, 10 August 2020

Nifty Technical Outlook, Positional & Intraday Trading Levels


Today, 11250 is the crucial intraday level for Nifty.

If Nifty sustains below 11250, then it could test 11150 and below that level it could test 11200, and below that level it could test 11120. 

Instead, if Nifty trades above 11250, then it could test 11340, and above that level it could test 11380

Short term Technical View of Nifty

For the short term, the level 10750 is crucial. If it sustains below this level, then it is likely to test 10200. Instead, if it trades above 10750, then it is likely to test 11700.

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

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, 21950 is crucial for Intraday.

If Bank Nifty sustains below 21950 then it could test 21750 and below that level it could test 21450.

Instead, if Bank Nifty trades above 21950 then it could test 22150 and above that level it could test 22350.

Short term Technical View of Bank Nifty

The level 21000 is crucial for Bank Nifty in the short term. As long as it trades above that level, a rally towards 25000 level is likely. Instead, if it could not sustain above 21000, then it could test 19000 in the downside.

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Nifty Short term Technical Outlook and View, 19 November 2010

The level 5900 is crucial for Nifty in the short term. If that level is broken, then the correction is likely to extend towards 5550 in the short term. Instead, If it fails to move below 5900, then a short term rally towards 6200 is likely.

Positional traders can trade short below 5900 and trade long above 5900.

Sell Nifty Futures @ 6200 with stop 6250 for a target of 6050, 5 Octber 2010

Nifty after making a high of 6222, is in a corrective mode. Going by the previous rally, which started of from the low of 5963, has not seen a correction since then. The sharp nature of the rally invites initially a slow correction which would be followed by a sharp correction.

Positional Traders can short Nifty futures at 6200 for a target of 6050 with a stop at 6250. The target can be achieved in another 5 trading sessions.

Nifty Trading well below the crucial level of 6040 and made a lower top today

Earlier we have given 6040 as a crucial. It was stated earlier it would be bullish above this level. But, in contrary to the expectation, Nifty is trading below that level. And also today, it reacted sharply from its earlier high of 6073 which is a bearish sign. In the downside a break of 5990 would foretell a correction towards 5800 in coming trading sessions. One can go short below 5990 with a stop 6040 for a target of 5800 in coming trading sessions.