Nifty & BankNifty outlook for this week

Nifty Bank Nifty outlook

Market outlook for this week

The daily and weekly technical outlook & trend for Nifty remains “Neutral” for this week; implying an even risk-reward ratio. However, the monthly trend remains negative, indicating that it might hit an obstacle sometime in the next few weeks. The momentum has medium intensity; implying a lower probability of changes in the outlook and trend this week.

The outlook and trend for Bank Nifty remain neutral on daily, weekly timeframes, while the monthly trend has turned positive now; implying a neutral risk-reward in the short term but a positive payout in the midterm. The momentum in Bank Nifty has medium intensity now; implying a lower probability of change in outlook and trend during the week.

Nifty: 

The day traders may avoid trading in the 15945-16070 range, as in this range volatility may be high, and stop losses on both sides may get hit. The long positions may be held with a stop loss of 16070 (on a daily closing basis). Non-positional short positions may be held with a stop loss of 16345 (on a daily closing basis).

Bank Nifty:

The Day Trading may be avoided in the 35510 – 35615 range. For all long positions maintain a strict stop loss of 35305 (on a closing basis). Non-positional short positions may be held with a stop loss of 36115 (on a closing basis).

Nitfy Bank Nifty Levels

 

 

 

Nifty Chart

For more market updates join our telegram channel: Click here outlook and trend for Bank Nifty remain neutral on daily, weekly

timeframes, while the monthly trend has turned positive now; implying a neutral risk-reward in the short term but a positive payout in the midterm. The momentum in Bank Nifty has medium intensity now; implying a lower probability of change in outlook and trend during the week.  ergregergergergergerg

Author: Midas Finserve

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