Market Outlook - Healthy correction in Nifty| Bank Nifty Future - Indian stock market has put a break after consecutive five days bull market. It was a consecutive third positive week for the India share market. Banks took the charge to lead the market and both small and mid-cap shares participated in the rally.
Market experts feel that market would consolidate for a while and bull will take charge only if nifty goes above 11550 level. As global cues are not favorable there would be some possibility of a healthy correction in the market.
Nifty and Bank Nifty Future share price target
Nifty Weekly Outlook
Primary Trend of Nifty Future: Long OHLC-(11420.15/11504.70/11376.20/11439.25)
Range Bound Trend: All up Moves Initiates Profit Booking (Sale) @ 11479, whereas All Down Moves Initiates Short Covering (Buy) @ 11399
If Nifty future share price moves above 11455 then one should Buy with 1st Target of 11503.5 during the day or any point during the week by Trailing the Stop Loss from 11399-11429-11448-11478-11509-11528-11558 for the Target of 11583-11623
If Nifty future share price moves below 11424 then one should Sell with 1st Target of 11375 during the day or any point during the week by Trailing Stop Loss from 11478-11448-11429-11399-11369-11350-11320 for the Target of 11295-11255
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| Market Outlook - Healthy correction in both Nifty and Bank nifty |
Bank Nifty Future share price target for next week
Primary Trend of Bank Nifty Future: Long OHLC-(27825.6/28386/27825/28166.55)
Range Bound Trend: All up Moves Initiates Profit Booking (Sale) @ 28340, whereas All Down Moves Initiates Short Covering (Buy) @ 27995
If Bank Nifty future share price moves above 28233 then you should Buy with 1st Target of 28447 during the day or any point during the week by Trailing the Stop Loss from 27993-28125-28207-28339-28472-28554-28686 for the Target of 28794-28967
If Bank Nifty future share price moves below 28100 then you should Sell with 1st Target of 27886 during the day or any point during the week by Trailing the Stop Loss from 28339-28207-28125-27993-27860-27778-27646 for the Target of 27540-27365
Conclusion:
Our Market Outlook:Healthy correction in the market especially in Nifty and Bank Nifty future share price is foreseen. It is also necessary so that whoever missed the bus in the earlier session can enter into the market and earn handsome profit.
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Happy Investing
Finogyan Team
Please share your feedback
Happy Investing
Finogyan Team
