Monday, 7 August 2017

Bank Nifty Spot Outlook for 08th Aug

BANK NIFTY


Bank Nifty spot opened at 24854.15 , made a low of 24844.45 , it made a high of 24979.35 before closing at 24906.35 .

Had mentioned that long positions for the day can be taken above 24905 and short positions for the day can be taken below 24750 . Bank Nifty triggered our long trade and completed just 1 target . 

Had mentioned in the previous post "   Now in the coming session Bank Nifty needs to break and sustain below 24615 to test 24555 - 24505 levels initially and below it we can see a test of 24435 - 24365 . Those who are holding shorts should now move up their cbsl to 24865 from 25340 spot mentioned  previously " , Bank Nifty took the cbsl of shorts today . Now in the coming sessions Bank Nifty needs to break and sustain / close above 25025 for a test of 25235 - 25390 initially and above it we can see a further move till  25470 - 25670 . Similarly on sustaining / closing below 24630 we can see a test of 24420 - 24365 initially and further below it we can see a further test of 24185 - 23985 . Those who are looking to enter fresh longs on small dips should keep a strict cbsl of 24630 now . Any shorts taken this week should be exited on sustaining above 25030 . 


Bank Nifty Spot Levels for the day are

Long above 24980 for 25030 
– 25085 – 25225 , SL 24880

Short below 24830 for 24785 – 24730 – 24590 , 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.