Thursday, 7 December 2017

Bank Nifty Spot Outlook for 08th Dec

BANK NIFTY


Bank Nifty spot opened at 24935.30 ,made a low of 24875.35 ,  it made a high of 25097.40,   before closing at 25057.25.

Had mentioned that long positions can be taken above 24915 for the day and short positions can be taken below 24790.  Bank Nifty triggered our long trade and missed our last target by 23 points . Had mentioned in the previous post " Those who are holding shorts from the previous week should now move up their trailing cbsl to 25150 from 25350 mentioned earlier as we got a close below 25000 now .  " , and today Bank Nifty made a high of 25097.40 .  

Had mentioned in the previous post " Now in the coming session Bank Nifty breaking and sustaining below 24790 can test 24725 - 24705 and on sustaining below it we can see a further correction till 24650 - 24585 next. Similarly in the coming session Bank Nifty breaking and sustaining above 24915 we can see a test of 24980 - 25000 initially and breaking and sustaining above it we can see a further move till 25055 - 25120 next . " , and today Bank Nifty made a high of 25097.40  within our next resistance zone and also closed within it . 


Now in the coming session Bank Nifty breaking and sustaining below 24985 can test 24910 - 24890 and on sustaining below it we can see a further correction till 24825 - 24755 next. Similarly in the coming session Bank Nifty breaking and sustaining above 25130 we can see a test of 25205 - 25225 initially and breaking and sustaining above it we can see a further move till 25290 - 25360 next .Those who are holding shorts from the previous week should now move up their stoploss to 25150 from 25350 mentioned earlier .


Bank Nifty Spot Levels for the day are

Long above 25130 for 25175 
– 25225 – 25360 , SL 25035

Short below 24985 for 24940 – 24890 – 24755 , SL 25080

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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.