Tuesday, September 29, 2020

Nifty and BankNifty, Stock Market Outlook 30 September 2020

 

 Nifty and BankNifty, Stock Market Outlook 30 September 2020 

Nifty: 11222 -5
 BankNifty: 21411 -254

Stock Market Today 

After making a high of 11,305 in the intraday tarde session, the Indian indices finally succumb to the profit-booking pressure and lost the opening bell gains.

 The BSE Sensex that once made an intraday high of 38,235 closed at 37,992, around 11 points below its yesterday's close. NSE Nifty lost 5 points and closed at 11,222 mark. Bank Nifty shed 254 points after closing at 21,411 levels. 

Nifty Outlook


nifty share price , finvestonline.com

As discussed yesterday that 11250 is a crucial level for the Nifty and after crossing the level of 11250 Nifty was unable to give closing of above 11250 level.

Currently Nifty is neither very strong nor very weak on chart , which means it will remain in a sideways zone in  a small range. 

So Nifty is in slightly positive but in a directionless trend and no big move expected in either side. So for tomorrow avoid trading in the Nifty. Lets wait for a further clear picture on charts.

BankNifty Outlook

banknifty share price , finvestonline.com

Banknifty condition is also the same as of Nifty but is weaker than Nifty on charts. 

Now 21800 is resistance for the Banknifty in upside and 21150 is support in the downside.

For tomorrow in BankNifty will be mildly negative biased and no big move expected in either side. So for tomorrow avoid trading in the BankNifty. Lets wait for a further clear picture on charts.


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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