Tuesday, 3 October 2017

Bank Nifty Spot Outlook for 04th Oct

BANK NIFTY


Bank Nifty spot opened at 24200.60 ,made a high of 24226.80 , it made a low of 24007.05,  before closing at 24103.40 

Had mentioned that long positions for the day can be taken above 24125 and short positions for the day can be taken below 23980 . Bank Nifty triggered our long trade by opening near our 2nd target and reversed . Bank Nifty failed to confirm our weekly longs in the gap up and also did not trigger our weekly longs at close . Bank Nifty was subdued in trade mostly due to the RBI policy due tomorrow and we can expect a good move tomorrow. 

Had mentioned in the previous post " Now in the coming session Bank Nifty breaking and sustaining below 23980 can test 23900 - 23880 and on sustaining below it we can see a further test of 23815 - 23740 next Similarly in the coming session Bank Nifty breaking and sustaining above 24125 we can see a test of 24205 - 24225 initially and breaking and sustaining above it we can see a further move till 24290 - 24365 next . "  , and we saw Bank Nifty make a high of 24226.80 near our initial resistance of 24205 - 24225  .  Now in the coming session Bank Nifty breaking and sustaining below 24030 can test 23950- 23930 and on sustaining below it we can see a further test of 23860 - 23785 next. Similarly in the coming session Bank Nifty breaking and sustaining above 24180 we can see a test of 24260 - 24280 initially and breaking and sustaining above it we can see a further move till 24350 - 24425 next . 


Bank Nifty Spot Levels for the day are

Long above 24180 for 24225 
– 24280 – 24425 , SL 24080

Short below 24030 for 23980 – 23930 – 23785 , SL 24125

If you want to see the post in your Inbox , kindly register by adding your email id in  the 'Subscribe to my posts' section on the top right side of the blog. Also please give your valuable feedback by selecting the appropriate reactions box at the bottom of the post.

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.