Wednesday, September 23, 2020

Nifty and BankNifty, Stock Market Tomorrow Outlook 24 September 2020

  

 Nifty and BankNifty, Stock Market Tomorrow Outlook 24 September 2020 

Nifty: 11131 - 21
 BankNifty: 21178 +39

Stock Market Today 

After the huge selloff in the mid-session, the Indian indices finally managed to recover from its intraday low but fiunally ended in the red zone after the closing bell today. 

The BSE sensex shed 69 points after closing at 37,664 mark while the NSE Nifty dipped 21 points and closed at 11,131 levels. Bank Nifty index added 39 points after closing at 21,178 mark.

Nifty Outlook


nifty share price , finvestonline.com



Friends as discussed yesterday that today market will open and trade in green zone in the first half and in the second half market will gradually go down and will closes in the red zone. We also discussed that it would be a Golden Chance to take short position in Nifty or Buy Nifty Put option.

And today whole day Nifty traded exactly on our expectation. We think that you all have taken short position in Nifty or have bought Nifty Put option. As tomorrow is also expiry of the current month so premium is very less in the Nifty and Nifty Put Option. So there is chance of good return with less premium investment.

Tomorrow there can be a sharp fall in Nifty and Nifty can fall below the level of 11000 and can go down to 10800 level. So be prepared for profit booking as tomorrow is expiry of the current month also , so market may be highly volatile but tendency of the market will be in downside with sharp fall.

BankNifty Outlook

banknifty share price , finvestonline.com

Friends as discussed yesterday that today market will open and trade in green zone in the first half and in the second half market will gradually go down and will closes in the red zone. We also discussed that it would be a Golden Chance to take short position in BankNifty or Buy BankNifty Put option.

But, BankNifty is slightly stronger than Nifty on charts so it can resist a little bit in first half. But as the time passes it would also become weaker and will participate in market fall.

Tomorrow Banknifty can fall below the level of 21000 and can go down below 20500 level. So be prepared for profit booking as tomorrow is expiry of the current month also , so market may be highly volatile but tendency of the market will be in downside.

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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