Tuesday, December 8, 2020

Stock Market Tomorrow | Nifty & BankNifty Outlook for 09 Dec 20


 Nifty and BankNifty, Stock Market Outlook for 09 Dec 20

Stock Market Today 

Indian equity benchmarks ended Tuesday's volatile session on a positive note amid buying in counters such as Ultratech Cement, TCS, Reliance Industries and Infosys.  Markets made slightly positive start and soon extended gains, as sentiments got a boost with Niti Aayog vice chairman Rajiv Kumar’s statement that the government is committed to improving the ease of doing business and innovation ecosystem where every school student has access to the innovative tools and trends. 

Traders also took note of report that companies raised Rs 73,215 crore from the capital markets in October, with private placement of debt instruments continuing to be the most-preferred route for funding.

Nifty Outlook

As we discussed in our weekly outlook that we will make new high in this week and can test 11474 and today we were near to 11435 .

Still our Nifty is strong and not showing any sign of major correction . So we should remain with trend and do not trade against the trend.

But today near the end of the trading session  we saw some minor weakness . So tomorrow in the morning session we can see some weakness in Nifty but this is not the point of making short position that should be cleared. 
In the second half we will recover and we can again test new higher levels in upside.

Tomorrow 11311 will be important support and 11474 will be important resistance .
So , plan your strategy accordingly.

BankNifty Outlook

Strategy will be same as of Nifty.
Follow buy on dips strategy.
29981 will be  important support and 30687 will be important resistance for tomorrow.

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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