Wednesday, 30 August 2017

Bank Nifty Spot Outlook for 31st Aug

BANK NIFTY


Bank Nifty spot opened at 24253.05 , made a low of 24241.30, it made a high of 24384.10,  before closing at 24308.70 .

Had mentioned that long positions for the day can be taken above 24210 and short positions for the day can be taken below 24050 . Bank Nifty triggered our long trade and completed 2 targets.

Had mentioned in the previous post " 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 . "  , and we saw Bank Nifty make high of 24384.10 near our resistance zone of 24385 - 24460.   Now in the coming session Bank Nifty breaking and sustaining below 24240 can test 24165 - 24145 and on sustaining below it we can see a further test of 24080- 24010 next. Similarly in the coming session Bank Nifty breaking and sustaining above 24380 we can see a test of 24455 - 24475 initially and breaking and sustaining above it we can see a further move till 24540 - 24610 next . 


Bank Nifty Spot Levels for the day are

Long above 24380 for 24425 
– 24475 – 24610 , SL 24285

Short below 24235 for 24195 – 24145 – 24010 , SL 24330

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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.