Sunday, 3 December 2017

Bank Nifty Spot Outlook for 04th Dec

BANK NIFTY


Bank Nifty spot opened at 25409.55 ,made a high of 25441.35 ,  it made a low of 25152.65 ,   before closing at 25191.95   . 

Had mentioned that long positions can be taken above 25395 for the day and short positions can be taken below 25270.  Bank Nifty initally triggered our long trade for the day and completed just 1 target and took our TSL . It then triggered our short trade and completed 2 targets on the short side too . 


Had mentioned in the previous post " Now in the coming session Bank Nifty breaking and sustaining below 25270 can test 25210 - 25195 and on sustaining below it we can see a further correction till 25140 - 25085 next. Similarly in the coming session Bank Nifty breaking and sustaining above 25395 we can see a test of 25455 - 25470 initially and breaking and sustaining above it we can see a further move till 25525 - 25580 next . Those who are looking to enter fresh shorts should keep a cbsl of 25655 " , and today Bank Nifty made a low of 25152.65 just above our next support levels for the day  


Now in the coming session Bank Nifty breaking and sustaining below 25130 can test 25070 - 25055 and on sustaining below it we can see a further correction till 25005 - 24945 next. Similarly in the coming session Bank Nifty breaking and sustaining above 25250 we can see a test of 25310 - 25330 initially and breaking and sustaining above it we can see a further move till 25380 - 25440 next . 


Bank Nifty Spot Levels for the day are

Long above 25250 for 25285 
– 25330 – 25440 , SL 25175

Short below 25130 for 25095 – 25055 – 24945 , SL 25210

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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.