Monday, August 24, 2020

BankNifty Today, Tomorrow and Weekly Outlook | Next- 25000 level


CMP : 22560 ( 9: 15 AM, 24 Aug 20)

Fresh Long Breakout Seen on Technical Chart

BankNifty on Charts

Banknifty today,tomorrow,

๐Ÿ‘‰ A fresh long price-volume seen on the chart with good green candles .

๐Ÿ‘‰ Today BankNifty breaks a major Resistance level of 22400 on chart with good volume.

๐Ÿ‘‰ Now outlook on Banknifty changed. Now Banknifty will be more stronger than the Nifty on Charts.This does not mean Nifty is weak. I want to say now momentum of price increase will be more in comparison with the Nifty. For example if Nifty rises 1% than BankNifty would rise 1.5 to 2 %.

๐Ÿ‘‰ So in the Index we should prefer BankNifty rather than Nifty fore more return in the long side.

Value Based Long Term Investment Stock Under 15

๐Ÿ‘‰ Now after breaking the 22400 level next resistance on the chart is at 25000 Level in the up side and now 22000 will be the immediate support. So here we can see that downside is only 500 points and upside has potential of 2500 points from here.

๐Ÿ‘‰ So from here our position should be in Banknifty in long side till 25000 level achieved. In every dip or small correction BankNifty should be bought for a good return.

๐Ÿ‘‰ So now BankNifty short to medium term outlook is on positive side.

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Disclaimer- The information on this blog are based on my personal opinion and experience, it should not be considered professional financial investment advice and in no way it should be considered as a tip. We does not take any compensation of any kind whatsoever from any reader,user and company that are mention on this channel.We are not SEBI registered financial advisor or analyst.

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