Tuesday, September 15, 2020

Nifty and BankNifty, Stock Market Tomorrow Outlook 16 Sep 2020


 Nifty and BankNifty, Stock Market Tomorrow Outlook 16 Sep 2020 

Nifty: 11521 +81
 BankNifty: 22465 +364

Stock Market Today 

Amid strong global indicators, the Indian indices closed in the green zone after the closing bell today. 

The BSE Sensex shot up 287 points and closed at 39,044 levels while the NSE Nifty surged 81 points and closed at 11,521 levels. Bank Nifty skyrocketed 364 points and closed at 22,465 mark.

 Healthcare, telecom, banking and finance stocks were among the leading gainers after the closing bell today.


Nifty Outlook

finvestonline.com , nifty

After taking support from the level of 11200 Nifty is in short term uptrend and currently trading at 11521.

11570 is the nearest resistance for the Nifty. If Nifty closes above the level of 11570 then in upside another 100 to 200 points can be seen in the Nifty.

As of now short position can be made in Nifty in every bounce for a potential target of 11000 to 10800 in downside in the September 2020 series.


BankNifty Outlook

finvestonline.com , banknifty

After many dips and bounce Banknifty managed to close 364 points higher at 22465.

But the trend of the Banknifty is in sideways zone . It can not be said that the uptrend started in Banknifty. So be cautious . BankNifty uptrend will start when it closes above the level of 22700 in upside. 

As of now be cautious for another 200 to 300 points in upside until it closes above the level of 22700 level. When it crosses the level of 22700 in upside then long position in Banknifty should be initiated for the level 23000 in upside.

Thanks for your Precious Time.


Finvest Online
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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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