Monday, 15 February 2016

Outlook for 15th February

NIFTY


Nifty spot opened at 7023.65 and made a high at 7034.80 , then went down till 6869 before closing at 6980.95 . Today Nifty triggered our long call at opening and hit our stoploss. Then Nifty triggered our short call and completed more than 2 targets on the short side . As mentioned in our previous post 'Now the next support comes near 6855 - 6760 which should be watched closely .We need to see 7120 getting reclaimed for building hopes of any short term revival' . If this range is held this week too then we may see a small pull back.

For today Nifty spot has resistance on the upside near 6995 - 7005 , sustaining above 7023 is required to test 7051 - 7065 levels . Similarly Nifty spot has support on the downside near 6967 - 6957, breaking and sustaining below 6939 we can test 6912 - 6898 levels.

Nifty Spot Levels for the day are

Long above 7015 for 7036 - 7060 - 7126

Short below 6946 for 6926 - 6902 - 6836

BANK NIFTY


Bank Nifty spot opened at 14088.60 and made a high at 14154.55 then went down till 13810.60 before closing at 13971.50. Today Bank Nifty did not give gave a good chance to trade as it did not trigger any call. As mentioned in our previous post  'Now the next support comes near 13780 - 13550 which should be watched closelyWe need to see 14440 getting reclaimed for building hopes of any short term revival '. If this range is held this week then we may see some pullback.

Bank Nifty Spot Levels for the day are

Long above 14186 for 14318 – 14470 – 14880

Short below 13757 for 13625 – 13473 – 13063

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Disclaimer : These are my personal views and trades taken on them should be done with a strict Stop loss