Tuesday, September 8, 2020

Nifty and BankNifty, Stock Market Tomorrow Outlook 09 Sep 2020


  Nifty and BankNifty, Stock Market Tomorrow Outlook 09 Sep 2020 

Nifty: 11317 -38
BankNifty: 22744 -200

➤ On account of rising tension at India-China border, the Indian indices ended in the red zone after the closing bell today. The BSE Sensex went off 51 points and closed at 38,365 levels while the 50-stocks NSE Nifty went down 37 points after closing at 11,317 levels. Bank Nifty dipped 200 points and closed at 22,744 levels.

Nifty Outlook

nifty share price www.finvestonline.com

Nifty is gradually showing weakness as BankNifty is not supporting the market.

The current scenario shows that market is in indecision phase. There is neither any sharp fall nor any sharp rise in the market is seen.

 As of now watching the recent trend in the market long position should be avoided till Nifty closes above the level of 11550 n upside.

Short term trend of the Nifty is slightly negative but not in strong downtrend. So here trades in both sides should be avoided.

BankNifty Outlook

banknifty share price www.finvestonline.com

It is better to avoid any trades in the market in any side as market seems to be in indecision point .

Here weekly chart is in uptrend till now and daily charts shows weakness and contradicting each other.

As short term trend is negative and long term trend is positive so Banknifty fall is minor and there is no any sharp fall. If you are taking short position in the market then you should be alert on your trades.

Banknifty now break and closed below the 22900 level and short term trend in BankNifty is now negative. So in every bounce short position should be taken for a level of 22500 in downside.

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 website.We are not SEBI registered financial advisor or analyst.

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