Bank Nifty Spot Outlook for 16th Aug

BANK NIFTY

Bank Nifty spot opened at 24051.05 , made a low of 24038.15 , it made a high of 24212.15 , before closing at 24115.75  .

Had mentioned that long positions for the day can be taken above 24050 and short positions for the day can be taken below 23920 . Bank Nifty triggered our long trade and missed our 3rd target by 43 points . Bank Nifty had also triggered our weekly longs and completed 2 targets . 

Had mentioned in the previous post " Now in the coming session Bank Nifty breaking and sustaining below 23920 can test 23835 - 23815 and on sustaining below it we can see a further test of 23640 - 23595 next . Similarly in the coming session Bank Nifty breaking and sustaining above 24050 we can see a test of 24135 - 24155 initially and breaking and sustaining above it we can see a further move till 24330 - 24375 next . "  , Bank Nifty made a high of 24212.15 before closing at 24115.75 .  Now in the coming session Bank Nifty breaking and sustaining below 24045 can test 23975 - 23955 and on sustaining below it we can see a further test of 23895 - 23825 next. Similarly in the coming session Bank Nifty breaking and sustaining above 24185 we can see a test of 24255 - 24275 initially and breaking and sustaining above it we can see a further move till 24340 - 24410 next .

Bank Nifty Spot Levels for the day are

Long above 24185 for 24225 – 24275 – 24410 , SL 24095

Short below 24045 for 24005 – 23955 – 23825 , SL 24135

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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.