Sunday, September 13, 2020

Nifty and BankNifty, Stock Market Tomorrow Outlook 14 September 2020


  Nifty and BankNifty, Stock Market Tomorrow Outlook 14 September 2020 

Nifty: 11464 +15
BankNifty: 22479 +13

➽ On account of mixed cues from the global and domestic indicators, the Indian indices continued to trade range-bound throughout the intraday trade session. On global front, weak US market cues continued to boost the morale of the bears while the ease in India China border tension held the positive morale of bulls. 

➽ The BSE Sensex shot up 7 points after closing at 38,848 mark while the 50-stocks NSE Nifty edged edged 15 points higher at 11,464. Bank Nifty added 13 points and closed at 22,479 mark.

Nifty Outlook

nifty price

➽ As discussed yesterday that Nifty will trade in a narrow zone and the market behaves exactly like this whole day. 
➽ After the correction of 600 points from the top the Nifty is trading in a sideways zone.
➽ As of now Nifty trend is positive but 11570 is strong resistance for the Nifty and immediate level in the downside is at 11200 level.
➽ At this point of time Nifty will slowly and gradually  move upside but strong upside momentum in Nifty will be seen when it closes above the level of 11570 level.

BankNifty Outlook

banknifty price

➽ After a correction of almost 3000 points BankNifty for the 2 trading session is in a consolidation and searching for a bottom. 
➽ At this point of time it seems that BankNifty made its bottom of this correction but upside momentum in Banknifty will not come until it closes above the level of 23000.
➽ When any stock or index is making a bottom then there is a fast price fluctuation in both side.  So at that point chances of stop loss trigger is more prominent.
➽ As of now 23000 is the strong resistance in upside and in downside 22000 is strong  support for the BankNifty. 
➽ So from tomorrow in any dip or correction long position should be initiated for the level of 23500 in upside. Here remember as the Banknifty trend is not very strong so intraday correction can be seen in Banknifty. But average trend will be positive in upside from here.

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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