Nifty and Nifty Bank index have risen well last week as expected. Nifty has made a bullish breakout and has brought the prolonged sideways consolidation to an end. The outlook is bullish. Nifty and Nifty Bank index can rise more.
But long-term resistances are coming up for the Nifty. So as the index moves up from here, we would like to be more careful rather than becoming overly bullish.
#Nifty has support at 22,800 now. It can rise to 23,250 this week. Failure to breach 23,250 can take the #Nifty50 down to 22,800 again. But a break above 23,250 can take the #nifty further up to 23,750.
The 23,250 and 23,750 are very crucial resistances from where we expect the #nifty50 to turn down again.
#NiftyBank index has resistance at 49,300. A break above it can take the #niftybankindex up to 50,300-50,500 this week. If the index manages to breach 50,500 the upside can extend up to 51,300.
#niftyprediction, #nifty, #nifty50, #niftyanalysis, #niftyweeklyanalysis, #niftytomorrow, #niftytomorrowprediction, #niftyviewtomorrow, #nifty_bank_nifty_prediction, #banknifty, #bankniftyprediction, #bankniftyanalysis, #bankniftytrading, #niftybank, #bankniftytomorrow, #niftybanknifty, #niftybankniftyprediction, #niftybankniftylevels,
BL Portfolio: https://www.thehindubusinessline.com/portfolio/
Write to the following email ids for any queries on
1) Futures & Options (F&O) : derivatives@thehindu.co.in
2) Technical outlook on the specific stocks: techtrail@thehindu.co.in
3) Mutual Funds: mf@thehindu.co.in
4) Investments, Personal finance: blportfolio@thehindu.co.in
SOCIAL MEDIA HANDLES
Facebook - Blportfolio
https://www.facebook.com/profile.php?id=100086211032670LinkedIn - BL Portfolio
https://www.linkedin.com/in/bl-portfolio-314bb2220Twitter - @BlPortfolio
https://twitter.com/BlPortfolio?t=B3zkMfwKIMuoHWBWJfoZ3w&s=09