Wednesday, 27 September 2017

Bank Nifty Spot Outlook for 28th Sep

BANK NIFTY


Bank Nifty spot opened at 24308.70 ,made a high of 24331.95 , it made a low of 23766.60,  before closing at 23812.95  

Had mentioned that long positions for the day can be taken above 24265 and short positions for the day can be taken below 24135 . Bank Nifty triggered our long trade by opening above our 1st target and reversed to take our stoploss . Bank Nifty then triggered our short trade for the day and completed all short targets for the day giving 210 points. Bank Nifty had also triggered our weekly short trade on Monday and today came close to taking our stoploss and completed 5 weekly short targets giving 450+ points . 

Had mentioned in the previous post " Now in the coming session Bank Nifty breaking and sustaining below 24135 can test 24065 - 24050 and on sustaining below it we can see a further test of 23990 - 23925 next . Similarly in the coming session Bank Nifty breaking and sustaining above 24265 we can see a test of 24335 - 24350 initially and breaking and sustaining above it we can see a further move till 24410 - 24475 next . "  , and we saw Bank Nifty initially make a high of 24331.95 on sustaining after opening above 24265 near our initial resistance zone of 24335 - 24350 and reversed to make a low of 23766.60 on sustaining below 24135 as it also sustained below our weekly level of 23965 for further correction  . Now in the coming session Bank Nifty breaking and sustaining below 23740 can test 23670- 23650 and on sustaining below it we can see a further test of 23585 - 23515 next. Similarly in the coming session Bank Nifty breaking and sustaining above 23885 we can see a test of 23960 - 23980 initially and breaking and sustaining above it we can see a further move till 24040 - 24110 next . 


Bank Nifty Spot Levels for the day are

Long above 23885 for 23930 
– 23980 – 24110 , SL 23790

Short below 23740 for 23700 – 23650 – 23515 , SL 23835

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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.