Wednesday, December 23, 2020

Stock Market Tomorrow | Nifty & BankNifty Outlook 24 Dec 20


 Nifty and BankNifty, Stock Market Outlook for 24 Dec 20 

Stock Market Today 

Indian equity benchmarks ended higher for the second straight day on Wednesday, tracking gains in Hindustan Unilever, Infosys and Mahindra & Mahindra amid a positive trend in global markets. Key gauges made cautious start, amid concerns about a new faster-spreading variant of the coronavirus. But, the benchmarks soon gained traction and traded in fine fettle, as investors took some solace from a private report that India is likely to approve Oxford/AstraZeneca’s coronavirus vaccine for emergency use by next week after its local manufacturer submitted additional data sought by authorities. 

Traders also took encouragement with PHD Chamber of Commerce and Industry’s EBM Index showing that the continuous improvement in the key economic and business indicators signals that the worst is behind us and expectations of positive GDP growth at 0.1 per cent to 2 per cent in Q3 and 2 per cent to 4 per cent in Q4 FY 2020-21 are becoming strong with a higher growth trajectory in FY 2021-22 at 7.7 per cent.

Nifty Outlook

Recovery continues for the second straight day and  upside momentum increased as the day passes. 
Tomorrow Nifty can test 13644 / 13686 in upside and 13514 will act as an important support in downside.

BankNifty Outlook

Recent rally in Banknifty may continue. In upside 30291 will act as an important resistance and in downside  29506 will act as an important support for Banknifty.
As tomorrow is weekly expiry too , so market may remain volatile . Trade cautiously. 

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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