Monday, August 24, 2020

Nifty and BankNifty Tomorrow Outlook | Stock Market 25 Aug 2020

 Nifty and BankNifty Tomorrow Outlook | Stock Market 25 Aug 2020

Nifty- 11466

BankNifty- 22810

Nifty Outlook 


Nifty Daily Chart

=>  Nifty Daily Trend is very strong and intact.

=>  Daily chart suggest in every dip or correction long position in Nifty should be made

=>  Now Nifty near support is at 11200 and upside resistance is near 11600 level.

Nifty 15 Minutes Chartlo

=>  As we discussed that Nifty trend in daily chart is very strong and the trade should be made in the long side in every dip in the market.

=>  Now in the 15 minutes chart nifty immediate very small resistance is at 11490 level. If market breach 11490 level hen the next target will be at 11600 level.

=>  In 15 minute chart immediate support is at 11430 level..

=>  Now tomorrow market will not rise sharply like today in the morning . Tomorrow market will open higher in about 50 points and trade whole day in around the opening price. Market will trade near opening price in a small range.


BankNifty Outlook


BankNifty Daily Chart

=> We discussed in the morning post in BankNifty that now BankNifty became more stronger than Nifty and heading towards the level of 25000 in few trading session.

=>  On daily chart BankNifty clearly breakout the resistance line and closed above it with high volume.

=>  Now immediate resistance is at 23200 level and support at 22500 level for Banknifty.

=>  In every dip or correction Banknifty should be long .


BankNifty 15 Min Chart



=>  Now tomorrow BankNifty will not rise sharply like today in the morning .Tomorrow BankNifty will trade near opening price in a small range.

=>  At this point of time if small correction happens then we should avoid that fall, not take any short position in the market , as the trend is very strong any time there can be short covering in the market and we will be trapped.

        =>  Thank you for precious time.



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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