Friday, 21 July 2017

Bank Nifty Spot Outlook for 21st Jul

BANK NIFTY


Bank Nifty spot opened at 24170.65 which was also the low for the day , it made a new life time high of 24299.60 before closing at a record high of 24213.35 .For the past 4 trading sessions now Bank Nifty has been making fresh new life highs and has also been giving new life time high closes .

Had mentioned that long positions can be taken above 24190 and short positions can be taken below 24115 .  Bank Nifty triggered our long trade and nearly completed all our daily long targets . It missed our last long target for the day 10 points . Bank Nifty had confirmed our weekly long trade in the previous session and had completed our initial 3 targets and today it completed further 2 long targets for the week .

Had mentioned since the beginning of this week " 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 . " , and today we saw Bank Nifty test 24285 - 24390 on sustaining above  24190 and make a high of 24299.60 . Now in the coming session Bank Nifty needs to sustain / close above 24285 to test the next targets on the upside at 24390 - 24430  . Those who are holding longs should now move up their trailing cbsl further to 24110.


Bank Nifty Spot Levels for the day are

Long above 24250 for 24270 
– 24295 – 24360 , SL 24200

Short below 24175 for 24155 – 24130 – 24065 , SL 24225

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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.