Tuesday, 9 January 2018

Bank Nifty Spot Outlook for 10th Jan

BANK NIFTY


Bank Nifty spot opened at 25727.95 ,made a high of 25803.80 ,  it made a low of 25617.25,   before closing at 25703.80  .

Had mentioned that long positions can be taken above 25725 for the day and short positions can be taken below 25630 .  Bank Nifty triggered our long trade and completed 2 targets before taking our TSL . 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 today made a high of 25803.80  . Nifty has given a consecutive close above 10615 confirming monthly longs for its initial target of 10700 - 10720 and Bank Nifty also now needs to sustain and close above 25760 for Nifty to move up further .

Had mentioned in the previous post " Now in the coming session Bank Nifty breaking and sustaining below 25630 can test 25580 - 25570 and on sustaining below it we can see a further correction till 25525 - 25480 next. Similarly in the coming session Bank Nifty breaking and sustaining above 25725 we can see a test of 25770 - 25785 initially and breaking and sustaining above it we can see a further move till 25825 - 25870 next . " , and Bank Nifty made a high of 25803.80 just above our initial resistance zone . 


Now in the coming session Bank Nifty breaking and sustaining below 25665 can test 25625 - 25615 and on sustaining below it we can see a further correction till 25575 - 25535 next. Similarly in the coming session Bank Nifty breaking and sustaining above 25745 we can see a test of 25785 - 25795 initially and breaking and sustaining above it we can see a further move till 25830 - 25870 next .


Bank Nifty Spot Levels for the day are

Long above 25745 for 25765 
– 25795 – 25870 , SL 25690

Short below 25665 for 25640 – 25615 – 25535 , SL 25720

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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.