Tuesday, 5 December 2017

Bank Nifty Spot Outlook for 06th Dec

BANK NIFTY


Bank Nifty spot opened at 25030.75 ,made a low of 24921.30 ,  it made a high of 25217.70 ,   before closing at 25124.85.

Had mentioned that long positions can be taken above 25135 for the day and short positions can be taken below 25015.  Bank Nifty initally triggered our short trade and completed 2 targets and took our TSL . It then triggered our long trade and completed 2 targets for the day . Had mentioned in the previous post " 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 . " , and today Nifty has held 25000 on closing. 

Had mentioned in the previous post " 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 . " , and today Bank Nifty made a low of 24921.30 just below our initial support zone and then made a high of 25217.70 just above our initial resistance zone . 


Now in the coming session Bank Nifty breaking and sustaining below 25065 can test 25005 - 24985 and on sustaining below it we can see a further correction till 24935 - 24875 next. Similarly in the coming session Bank Nifty breaking and sustaining above 25185 we can see a test of 25245 - 25265 initially and breaking and sustaining above it we can see a further move till 25315 - 25375 next .


Bank Nifty Spot Levels for the day are

Long above 25185 for 25220 
– 25265 – 25375 , SL 25105

Short below 25065 for 25030 – 24985 – 24875 , SL 25145

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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.