Monday, 4 December 2017

Bank Nifty Spot Outlook for 05th Dec

BANK NIFTY


Bank Nifty spot opened at 25295.05 ,made a high of 25297.20 ,  it made a low of 24993.35 ,   before closing at 25075.10 .

Had mentioned that long positions can be taken above 25250 for the day and short positions can be taken below 25130.  Bank Nifty initally triggered our long trade by opening above our 1st target for the day and reversed . It then triggered our short trade and completed 2 targets for the day . 

Had mentioned in the previous post " 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 . " , and today Bank Nifty made a low of 24993.35 within our next support levels for the day .


Now in the coming session Bank Nifty breaking and sustaining below 25015 can test 24955 - 24940 and on sustaining below it we can see a further correction till 24890 - 24830 next. Similarly in the coming session Bank Nifty breaking and sustaining above 25135 we can see a test of 25195 - 25210 initially and breaking and sustaining above it we can see a further move till 25265 - 25320 next . Those who are holding shorts from the previous week should keep a trailing cbsl of 25350 now and look to exit if we don't get a close below 25000 in the coming sessions . Those who are looking to go long should keep a strict cbsl of 25000 for their positions .


Bank Nifty Spot Levels for the day are

Long above 25135 for 25170 
– 25210 – 25320 , SL 25055

Short below 25015 for 24980 – 24940 – 24830 , SL 25095

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.