Thursday, September 10, 2020

Nifty and BankNifty, Stock Market Tomorrow Outlook 11 Sep 2020


  Nifty and BankNifty, Stock Market Tomorrow Outlook 11 Sep 2020 

Nifty: 11449 +171
BankNifty: 22466 +199

Following strong global sentiments throughout the intraday trade session, the Indian indices ended in the green zone after the closing bell today. 

The BSE Sensex skyrocketed 657 points and closed at 38,851 levels while the NSE Nifty shot up 171 points and closed at 11,449 levels.

Bank Nifty index went up 199 points and closed at 22,466 mark. Energy major and Sensex heavyweight Reliance industries share price skyrocketed 8.40 per cent.

Nifty Outlook


Nifty today recovered sharply and closed at 11449, now from here Nifty major resistance level is at 11550 level. But today's sharp move was unexpected but this is the nature of market.

Now from here Nifty will rise slowly to the level of 11550 level but momentum in Nifty will be not as sharp as seen today. 

Tomorrow Nifty will open slightly in negative direction and will trade in a small range in the first half of the market and in the second half market will consolidates . Tomorrow market can trade in a narrow zone so any big position should be avoided in the market and trade in small quantity.

BankNifty Outlook

banknifty ,

Although today Banknifty has given positive closing but on charts it remains in a indecision point. As of today Nifty is more stronger than BankNifty. 

For tomorrow avoid BankNifty trading in either direction as today closing is not confirming any buy or sell signals on charts. BankNifty ma trade in negative direction in small range.

But some banking shares should be watched for long position like Indusind Bank , Bandhan Bank and Axis Bank.

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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