Tuesday, August 18, 2020

Today Stock Market Closing Bell Updates and Stock Market Tomorrow Outlook Technically | Nifty and BankNifty

Today Stock Market Closing Bell Updates and Stock Market Tomorrow Outlook Technically

Today Stock Market Closing Bell Updates

➽Indian markets ended firmly higher today, led by gains in banking and metal stocks. The  NSE Nifty 50 index closed up 1.23% at 11,385.35. SENSEX closed 477 points higher at 38,858.32.
➽Birlasoft hits 52-week high on a global alliance with Microsoft.

➽Investor wealth rises Rs 2.71 lakh crore in two days of market gain

➽Mahindra Finance raises Rs 3,089 crore through rights issue

➽IDBI Bank gets shareholders' nod to raise Rs 11,000 crore

Stock Market Tomorrow Outlook

NIFTY on 1 Hour Chart

nifty today tomorrow

> As we discussed yesterday that after consolidation Nifty is ready for another upward move .All focus was to see what Nifty do at 11350 level. Today Nifty closed above the 11350 resistance level with good volume. 
> Now there can be another 200 to 300 points upside potential in the market . 

BankNifty on 1 Hour chart


> Initially Bank Nifty was not as strong as Nifty , but as the day passes BankNifty also participated Nifty rally. BankNifty also after consolidation started an upward move.
> Now Banknifty has a near support at 21500  level and near resistance at 22500 levels. If Banknifty breaks 22500 levels then there can be another 500 to 1000 points rally in upside till trend of the Banknifty is positive.


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