Tuesday, 29 August 2017

Bank Nifty Spot Outlook for 30th Aug

BANK NIFTY


Bank Nifty spot opened at 24302 , made a high of 24320.95 , it made a low of 24103.30 before closing at 24128.95.

Had mentioned that long positions for the day can be taken above 24450 and short positions for the day can be taken below 24305 . Bank Nifty triggered our short trade and completed 2 targets.

Had mentioned in the previous post " Now in the coming session Bank Nifty breaking and sustaining below 24305 can test 24230 - 24210 and on sustaining below it we can see a further test of 24140 - 24070 next . Similarly in the coming session Bank Nifty breaking and sustaining above 24450 we can see a test of 24525 - 24545 initially and breaking and sustaining above it we can see a further move till 24615 - 24685 next . "  , and we saw Bank Nifty make low of 24103.30 within our support zone of 24140 - 24070.   Now in the coming session Bank Nifty breaking and sustaining below 24050 can test 23965 - 23945 and on sustaining below it we can see a further test of 23875 - 23795 next. Similarly in the coming session Bank Nifty breaking and sustaining above 24210 we can see a test of 24290 - 24310 initially and breaking and sustaining above it we can see a further move till 24385 - 24460 next . 


Bank Nifty Spot Levels for the day are

Long above 24210 for 24255 
– 24310 – 24460 , SL 24105

Short below 24050 for 24005 – 23945 – 23795 , SL 24155

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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.