Sunday, 24 September 2017

Bank Nifty Spot Outlook for 25th Sep

BANK NIFTY


Bank Nifty spot opened at 24704.55 ,made a high of 24709.70 , it made a low of 24340,  before closing at 24368.85  

Had mentioned that long positions for the day can be taken above 24855 and short positions for the day can be taken below 24745 . Bank Nifty triggered our short trade and completed all our short targets for the day . Bank Nifty also triggered our weekly short trade and completed all our weekly short targets too giving around 380 points from the weekly short trade . Bank Nifty had triggered our weekly long trade earlier in the week and had completed 4 weekly long targets . For the upmove to continue Bank Nifty needed to sustain / close above 25085 which it failed to do after breaking above it in 3 consecutive sessions . 

Had mentioned in the previous post " Now in the coming session Bank Nifty breaking and sustaining below 24745 can test 24690 - 24675 and on sustaining below it we can see a further test of 24630 - 24575 next . Similarly in the coming session Bank Nifty breaking and sustaining above 24855 we can see a test of 24910 - 24920 initially and breaking and sustaining above it we can see a further move till 24970 - 25025 next . "  , and we saw Bank Nifty make a low of 24340 as it triggered our weekly short trade also on sustaining below 24740  . Now in the coming session Bank Nifty breaking and sustaining below 24305 can test 24235- 24215 and on sustaining below it we can see a further test of 24155 - 24090 next. Similarly in the coming session Bank Nifty breaking and sustaining above 24435 we can see a test of 24505 - 24525 initially and breaking and sustaining above it we can see a further move till 24585 - 24650 next . 


Bank Nifty Spot Levels for the day are

Long above 24435 for 24475 
– 24525 – 24650 , SL 24345

Short below 24305 for 24260 – 24215 – 24090 , SL 24390

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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.