Monday, January 04, 2021

Technical Outlook, 04 January 2021

                                                                                         


Nifty Technical Outlook, Positional & Intraday Trading Levels



Today, 14000 is the crucial intraday level for Nifty.
If Nifty trades above 14000, then it could test 14050 and above that level it could test 14100. 
Instead, if Nifty trades below 14000, then it could test 13950, and below that level it could test 13850.

Short term Technical View of Nifty

For the short term, the level 14000 is crucial. If it sustains below this level, then it is likely to test 13200. Instead, if it trades above 13900, then it is likely to test 14100.


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, 31200 is crucial for Intraday.
If Bank Nifty trades above 31200, then it could test 31400 and above that level it could test 31550.
Instead, if Bank Nifty trades below 31200, then it could test 31050 and below that level it could test 30900.


Short term correction is likely in coming days

The level 31800 is crucial for Bank Nifty in the short term. As long as it trades above that level, a rally towards 33000 level is likely. Instead, if it could not sustain above 31800, then it could test 29000 in the downside.
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