Monday, September 21, 2020

Nifty and BankNifty, Stock Market Tomorrow Outlook 22 Sep 2020

 nifty share price ,

 Nifty and BankNifty, Stock Market Tomorrow Outlook 22 September 2020 

Nifty: 11251 -254
 BankNifty: 21366 -664

Stock Market Today 

Sensex closed 812 points, or 2.09 percent, down at 38,034.14 while Nifty ended 254 points, or 2.21 percent, lower at 11,250.55.BankNifty closes 21366 down 664 points.

BSE Midcap and Smallcap indices closed 3.43 percent and 3.61 percent down, respectively. 

1) Nifty Outlook

Nifty in Daily Chart 
nifty share price ,

Nifty in Intraday Chart for Short Term 

nifty share price ,

Friends as discussed yesterday that now Nifty is also showing sign of weaknesses and is ready to fall to the level of 11250 in this week . And Today it fell 251 points and the Nifty Hits exactly the Target of 11250 in a single day.

Now Nifty chart clearly shows the breakout on Daily chart also which is indicating further more fall in Nifty can be seen .

On intraday charts a small support is seen at the level of 11185 but intensity of todays fall indicates that that support is not enough to sustain the Nifty fall.

On daily chart nearest support is seen at the level of 10862 level and seeing the momentum of fall it is expected that Nifty can fall minimum to this level for support in this recent correction.

So as of now short position in the Nifty should be made in every bounce or short covering with a target of 10862 in downside.

2) BankNifty Outlook

BankNifty in Daily Chart 

banknifty share price ,

BankNifty in Intraday Charts

banknifty share price ,

Friends as discussed yesterday that BankNifty is very weak on chart and will fall very sharply in this week . We also discussed that in this week at least 1000-1500 points downside can be seen in Banknifty and today itself it fell around 664 points and closed below our target of 21400 level.

Now the nearest small support to BankNifty is at 21031 level in intraday and near 20500 level in this week.

As of now in every bounce or short covering short position in the BankNifty  can be taken for the level of 21000-20500 level in downside.

Thanks for your Precious Time.

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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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