Bank Nifty Spot Outlook for 12th Jan

BANK NIFTY

Bank Nifty spot opened at 25628.20 ,made a low of 25532.25 ,  it made a high of 25694.65,   before closing at 25660.90  .

Had mentioned that long positions can be taken above 25660 for the day and short positions can be taken below 25575 .  Bank Nifty triggered our short trade and completed nearly 2 targets before taking our TSL . Bank Nifty then triggered our long trade and completed 2 targets on the long side .  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 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 . " , and Bank Nifty made a low of 25532.25 within our initial support and a high of 25694.65 just below our immediate resistance zone . 

Now in the coming session Bank Nifty breaking and sustaining below 25620 can test 25575 - 25565 and on sustaining below it we can see a further correction till 25530 - 25485 next. Similarly in the coming session Bank Nifty breaking and sustaining above 25705 we can see a test of 25745 - 25760 initially and breaking and sustaining above it we can see a further move till 25795 - 25835 next . 

Bank Nifty Spot Levels for the day are

Long above 25705 for 25725 – 25760 – 25835 , SL 25650

Short below 25620 for 25595 – 25565 – 25485 , SL 25675

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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.