Technical Outlook, 7 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 11110.

Instead, if Nifty trades above 11250, then it could test 11300.

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, 21450 is crucial for Intraday.

If Bank Nifty sustains below 21450 then it could test 21200 and below that level it could test 21000.

Instead, if Bank Nifty trades above 21450 then it could test 21750 and above that level it could test 22000.

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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