Monday, 4 September 2017

Bank Nifty Spot Outlook for 05th Sep

BANK NIFTY


Bank Nifty spot opened at 24456.30 , made a high of 24459.35 and then made a low of 24156.40 ,  before closing at 24236.85 .

Had mentioned that long positions for the day can be taken above 24500 and short positions for the day can be taken below 24370 . Bank Nifty triggered our short trade and completed all 3 targets for the day giving nearly 200 points. Bank Nifty also triggered our weekly short trade and completed our initial 3 short targets . 

Had mentioned in the previous post " Now in the coming session Bank Nifty breaking and sustaining below 24370 can test 24305 - 24285 and on sustaining below it we can see a further test of 24230 - 24165 next . Similarly in the coming session Bank Nifty breaking and sustaining above 24500 we can see a test of 24565 - 24580 initially and breaking and sustaining above it we can see a further move till 24640 - 24705 next . "  , and we saw Bank Nifty make a low of 24156.40   . Now in the coming session Bank Nifty breaking and sustaining below 24170 can test 24100 - 24085 and on sustaining below it we can see a further test of 24025 - 23960 next. Similarly in the coming session Bank Nifty breaking and sustaining above 24305 we can see a test of 24375 - 24390 initially and breaking and sustaining above it we can see a further move till 24450 - 24515 next . 


Bank Nifty Spot Levels for the day are

Long above 24305 for 24345 
– 24390 – 24515 , SL 24215

Short below 24170 for 24130 – 24085 – 23960 , SL 24260

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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.