Monday, 17 July 2017

Bank Nifty Spot Outlook for 18th Jul

BANK NIFTY


Bank Nifty spot opened at 24011.40 , made a low of 23913.65 , it made a new life time high of 24066.10 before closing at a record high of 24015.05 and also above 24000 for the first time. 

Had mentioned that long positions can be taken above 23980 and short positions can be taken below 23895 .  Bank Nifty triggered our long trade and completed 2 targets for the day.  Towards the end of session Bank Nifty again triggered our long trade and completed just 1 target . 

Now in the coming sessions Bank Nifty needs to break and sustain / close above 24025 to test 24160 - 24190 levels initially and above it we can see a test of 24285 - 24390 levels next . Similarly Bank Nifty on breaking and sustaining / closing below 23830 levels can see a test of 23715 - 23690 levels initially and below it we can see a test of 23590 - 23485 levels next . Those who are holding longs now should move up their trailing cbsl to 23830  . Today Bank Nifty broke above 24025 but could not sustain above it and holding 24000 we can see it make another attempt to break and sustain above it.



Bank Nifty Spot Levels for the day are

Long above 24050 for 24075 
– 24100 – 24170 , SL 24005

Short below 23980 for 23955 – 23930 – 23860 , SL 24025

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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.