Wednesday, 23 August 2017

Bank Nifty Spot Outlook for 24th Aug

BANK NIFTY


Bank Nifty spot opened at 24084.95 , made a low of 24074.15 , it made a high of 24350 before closing at 24316.80.

Had mentioned that long positions for the day can be taken above 24045 and short positions for the day can be taken below 23905 . Bank Nifty triggered our long trade and completed all daily targets giving 220 points . Bank Nifty also triggered our weekly long trade and completed 2 targets . Those who followed both levels would have got 300 points from the long trade . 

Had mentioned in the previous post " Now in the coming session Bank Nifty breaking and sustaining below 23905 can test 23835 - 23815 and on sustaining below it we can see a further test of 23755 - 23685 next Similarly in the coming session Bank Nifty breaking and sustaining above 24045 we can see a test of 24115 - 24135 initially and breaking and sustaining above it we can see a further move till 24195 - 24265 next . Once all daily targets get achieved then we should follow the weekly levels given for further targets "  , and we saw Bank Nifty make a high of 24350 completing 2 weekly long targets after completing all our daily long targets .   Now in the coming session Bank Nifty breaking and sustaining below 24235 can test 24150 - 24130 and on sustaining below it we can see a further test of 24055 - 23975 next. Similarly in the coming session Bank Nifty breaking and sustaining above 24400 we can see a test of 24485 - 24505 initially and breaking and sustaining above it we can see a further move till 24580 - 24660 next . 


Bank Nifty Spot Levels for the day are

Long above 24400 for 24450 
– 24505 – 24660 , SL 24290

Short below 24235 for 24185 – 24130 – 23975 , SL 24345

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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.