Thursday, 28 September 2017

Bank Nifty Spot Outlook for 29th Sep

BANK NIFTY


Bank Nifty spot opened at 23804.05 ,made a low of 23611.10 , it made a low of 24074.20,  before closing at 24008.15  

Had mentioned that long positions for the day can be taken above 23885 and short positions for the day can be taken below 23740 . Bank Nifty triggered our short trade initially and completed 2 targets giving nearly 100 points . It then reversed and triggered our long trade and again completed 2 targets giving another 100 points from the long trade . Bank Nifty had also triggered our weekly short trade on Monday and today completed all our weekly short targets at 23630 with a low of 23611.10 giving 630 points from the weekly short trade .  

Had mentioned in the previous post " 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 . "  , and we saw Bank Nifty initially make a low of 23611.10 on sustaining below 23740 and then  take support above 23585 - 23515 zone and reverse to make a high of 24074.20 within our next resistance zone of 24040 - 24110 for the day .  Now in the coming session Bank Nifty breaking and sustaining below 23930 can test 23840- 23820 and on sustaining below it we can see a further test of 23750 - 23670 next. Similarly in the coming session Bank Nifty breaking and sustaining above 24090 we can see a test of 24175 - 24195 initially and breaking and sustaining above it we can see a further move till 24270 - 24350 next . 


Bank Nifty Spot Levels for the day are

Long above 24090 for 24140 
– 24195 – 24350 , SL 23985

Short below 23930 for 23880 – 23820 – 23670 , SL 24035

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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.