Thursday, August 27, 2020

Nifty and BankNifty Tomorrow & Mid Term Outlook | Stock Market 28 Aug 2020


 Nifty and BankNifty Tomorrow & Mid Term Outlook | Stock Market 28 Aug 2020

Nifty- 11559

BankNifty- 23600

Nifty Outlook

Till today there is no change in the trend of the nifty .Nifty is in strong uptrend making higher high and higher low.

For short term support level of Nifty is at 11400 level now and in upper side nearest resistance is at 11700 level . 

Every small correction  should be utilized  in taking long position.

Tomorrow again what chart suggest that market will continue its upward journey and will up about 40 to 70 points in the morning.

Stock that can rise on 28 Aug 20 are BHEL, IDEA,  NMDC,  LICHOUSING, AXISBANK and RBL BANK.

IndusInd Bank Ltd | INDUSINDBK | Ready For Swing Trade

Nifty In Mid Term

In weekly charts Nifty is in strong trend and its nearest resistance is now at the level of 12000

So every dip in Nifty is an opportunity to take long signal..

BankNifty Outlook

We are discussing since the level of 22000 banknifty level that , this time Banknifty would test the level of 25000 mark ( see the previous post) and Banknifty is going closer to 25000 mark day by day.

We also discussed that Banknifty is more stronger than Nifty on chart and it is happening also.

Now come to tomorrow , until the BankNifty is above the level of 23300 long position can be taken in every correction in short term and tomorrow the  BankNifty can be up more than 300 points in the morning session and as the time passes it will increase more sharply as it has to achieve 25000 level in hurry.

Mid term level is intact that is 25000 level mark. Any correction should be used as taking long position.

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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