Thursday, 27 July 2017

Bank Nifty Spot Outlook for 28th Jul

BANK NIFTY


Bank Nifty spot opened at 24857.50 , made a new life time high of 25032.25 , it made a low of 24799.40 before closing at another record high of 24922.40 .


Had mentioned that long positions can be taken above 24690 and short positions can be taken below 24650 .  Bank Nifty opened above our last long target for the day and did not give any chance to enter . Bank Nifty has today also done 250 points above our last target for the day.  It had confirmed our weekly long trade this week and had completed all our weekly long targets and has now exceeded it by around 400+ 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 24690 - 24730 zone to test 24810 - 24850 zone next and being unable to do we can see profit booking take it to 24465 levels initially and below it till 24175 " and today we saw Bank Nifty make a high of 25032.25 on sustaining above 24690 - 24730 levels and also close beyond the range .Those who are holding longs should now further move up their cbsl to 24730. Now Bank Nifty needs to break and sustain above 24950 - 24985 zone to test 25070 - 25160 levels and being unable to do so we can see profit booking take it back till 24810 levels initially and below it till 24690 .


Bank Nifty Spot Levels for the day are

Long above 24950 for 24965 
– 24985 – 25035 , SL 24915

Short below 24895 for 24880 – 24860 – 24810 , SL 24930

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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.