Wednesday, 26 July 2017

Bank Nifty Spot Outlook for 27th Jul

BANK NIFTY


Bank Nifty spot opened at 24578.15 , made a new life time high of 24720.90 , it made a low of 24484.90 before closing at another record high of 24670.70 .


Had mentioned that long positions can be taken above 24545 and short positions can be taken below 24500 .  Bank Nifty triggered our short trade and completed just 1 target and took our TSL . It triggered our long trade and not only completed all our long targets for the day  but also exceeded it by 100 points . It had confirmed our weekly long trade this week and completed all our weekly long targets and exceeded it by around 150 points . 


Had mentioned in the previous post " Now in the coming week Bank Nifty needs to break and sustain / close above 24335 to test 24415 - 24435 levels initially and above it we can see a further move till  24510 - 24585 . Similarly Bank Nifty on sustaining / closing below 24180 levels we can see a test of 24095 - 24075 levels initially and below it we can see a further move till 24005 - 23925 levels . Now Bank Nifty needs to break and sustain above 24510 - 24585 zone to test 24650 - 24700 zone next and being unable to do we can see profit booking take it to 24175 levels initially " and today we saw Bank Nifty make a high of 24720.90 on sustaining above 24510 - 24585 levels and also close within the range .Those who are holding longs should now further move up their cbsl to 24500. Now Bank Nifty needs to break and sustain above 24690 - 24730 zone to test 24810 - 24850 levels and being unable to do so we can see profit booking take it back till 24465 levels initially and below it till 24175 .


Bank Nifty Spot Levels for the day are

Long above 24690 for 24702 
– 24715 – 24750 , SL 24665

Short below 24650 for 24640 – 24625 – 24590 , SL 24675

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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.