Wednesday, 10 January 2018

Bank Nifty Spot Outlook for 11th Jan

BANK NIFTY


Bank Nifty spot opened at 25709.90 ,made a high of 25717.60 ,  it made a low of 25527.50,   before closing at 25617.30  .

Had mentioned that long positions can be taken above 25745 for the day and short positions can be taken below 25665 .  Bank Nifty triggered our short trade and completed all 3 targets giving 120 points.  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 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 . " , and Bank Nifty made a low of 25527.50 just below our next support zone . 


Now in the coming session Bank Nifty breaking and sustaining below 25575 can test 25535 - 25520 and on sustaining below it we can see a further correction till 25485 - 25445 next. Similarly in the coming session Bank Nifty breaking and sustaining above 25660 we can see a test of 25700 - 25715 initially and breaking and sustaining above it we can see a further move till 25750 - 25790 next . We have Indusind Bank quarterly results being announced which can set the trend for the day .


Bank Nifty Spot Levels for the day are

Long above 25660 for 25685 
– 25715 – 25790 , SL 25605

Short below 25575 for 25550 – 25520 – 25445 , SL 25630

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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.