Sunday, 7 January 2018

Bank Nifty Spot Outlook for 08th Jan

BANK NIFTY


Bank Nifty spot opened at 25524.45 ,made a low of 25499.55 ,  it made a high of 25643.35,   before closing at 25601.85  .

Had mentioned that long positions can be taken above 25505 for the day and short positions can be taken below 25420 .  Bank Nifty triggered our long trade and completed all 3 targets giving around 140 points . Had mentioned in the previous post " This week Bank Nifty needs to break and sustain above 25645 for a test of its immediate resistance levels of 25760 - 25785 initially ." , and Bank made a high of 25643.35 and we can see it test them this week .   Bank Nifty took the trailing stoploss of shorts at 25515 

Had mentioned in the previous post " Now in the coming session Bank Nifty breaking and sustaining below 25420 can test 25375 - 25365 and on sustaining below it we can see a further correction till 25325 - 25280 next. Similarly in the coming session Bank Nifty breaking and sustaining above 25505 we can see a test of 25550 - 25565 initially and breaking and sustaining above it we can see a further move till 25600 - 25645 next . " , and Bank Nifty made a high of 25643.35 .


Now in the coming session Bank Nifty breaking and sustaining below 25555 can test 25505 - 25495 and on sustaining below it we can see a further correction till 25455 - 25410 next. Similarly in the coming session Bank Nifty breaking and sustaining above 25650 we can see a test of 25695 - 25705 initially and breaking and sustaining above it we can see a further move till 25750 - 25795 next .


Bank Nifty Spot Levels for the day are

Long above 25650 for 25675 
– 25705 – 25795 , SL 25590

Short below 25555 for 25530 – 25495 – 25410 , SL 25615

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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.