Tuesday, 10 October 2017

Bank Nifty Spot Outlook for 11th Oct

BANK NIFTY


Bank Nifty spot opened at 24304.80 ,made a low of 24273.65 , it made a high of 24379.75,  before closing at 24347.45

Had mentioned that long positions for the day can be taken above 24315 and short positions for the day can be taken below 24190 . Bank Nifty triggered our long trade and completed just 1 target . As mentioned in the previous post " Now this week Bank Nifty will need to break and sustain / close above 24360 to confirm longs and catch up with Nifty , which is possible as long as its holding 24000 on closing basis ." , and Bank Nifty today made a high of 24379.75 but closed below 24360 and we can expect a good move once it sustains above it tomorrow .  


Had mentioned in the previous post " Now in the coming session Bank Nifty breaking and sustaining below 24190 can test 24130 - 24115 and on sustaining below it we can see a further test of 24060 - 24000 next Similarly in the coming session Bank Nifty breaking and sustaining above 24315 we can see a test of 24375 - 24390 initially and breaking and sustaining above it we can see a further move till 24445 - 24505 next . "  , and we saw Bank Nifty make a high of 24379.75 within our initial resistance range of 24375 - 24390.  Now in the coming session Bank Nifty breaking and sustaining below 24285 can test 24220 - 24205 and on sustaining below it we can see a further test of 24150 - 24090 next. Similarly in the coming session Bank Nifty breaking and sustaining above 24410 we can see a test of 24475 - 24490 initially and breaking and sustaining above it we can see a further move till 24545 - 24605 next . 


Bank Nifty Spot Levels for the day are

Long above 24410 for 24445 
– 24490 – 24605 , SL 24330

Short below 24285 for 24250 – 24205 – 24090 , SL 24365

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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.