Monday, 5 June 2017

Bank Nifty Spot Outlook for 05th Jun

BANK NIFTY


Bank Nifty spot opened at 23435.20 and made a high of 23453.30 , it made a low of 23308.40 before closing at 23375.90 .


Had mentioned that long positions can be taken above 23404 and short positions can be taken below 23217. Bank Nifty opened above our long trigger but could not complete any target . 


Have mentioned in the previous posts that Bank Nifty has its immediate resistance near 23480 - 23515 zone and immediate support near 23115 - 22985 zone . We should see a bigger move once its breaks and sustains beyond this initial outer range of 23515 - 22985.
Bank Nifty has a strong support now near 22515 - 22480 zone . Bank Nifty has immediate resistance near 23480 - 23515 zone and above that near 23760 - 23820 zone . Bank Nifty has its immediate support near 23115 - 22985 zone and below it near 22880 - 22800 . 


For today if Bank Nifty spot sustains above 23466 we can see a initial move till 23562 & on sustaining above 23586 we may see further move till 23759 . Similarly if Bank Nifty spot sustains below 23285 we may see a initial move on the downside till 23190 &  on sustaining below 23166 we may see further move till 22993


Bank Nifty Spot Levels for the day are

Long above 23466 for 23522 
– 23586 – 23759 , SL 23348

Short below 23285 for 23230 – 23166 – 22993 , SL 23404

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Disclaimer : These are my personal views and one should do their own research before entering any trades based on them  . The use of the blog is agreement that the blog is for informational and educational purposes only and does not constitute advice in any form in the furtherance of any trade or trading decisions.