Wednesday, 9 August 2017

Bank Nifty Spot Outlook for 10th Aug

BANK NIFTY


Bank Nifty spot opened at 24519.25 , made a high of 24532.40 , it made a low of 24328.10 before closing at 24374.60 .

Had mentioned that long positions for the day can be taken above 24685 and short positions for the day can be taken below 24515 . Bank Nifty triggered our short trade and completed 2 targets . Bank Nifty had also triggered our weekly shorts below 24630 in the previous session and today completed 4 weekly short targets .

Had mentioned in the previous post " 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 had closed below 24630 in the previous session and today made a low of 24328.10 . Now sustaining below 24365 in the coming session we can see a test of 24185 - 23985 .


Bank Nifty Spot Levels for the day are

Long above 24455 for 24500 
– 24555 – 24705 , SL 24350

Short below 24295 for 24250 – 24195 – 24045 , SL 24400

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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.