Bank Nifty Spot Outlook for 22nd Jan

BANK NIFTY

Bank Nifty spot opened at 26615.65 ,made a low of 26433.55 , it made a new lifetime high of 26957.85 ,   before closing at 26909.50 .

Had mentioned that long positions can be taken above 26595 for the day and short positions can be taken below 26480 .  Bank Nifty initially triggered our short trade and completed just 1 target and took our TSL . Bank Nifty then triggered our long trade and completed all our targets giving 180 points and even bettered it by 150 points more . 

Had mentioned in the previous post " Now in the coming session Bank Nifty breaking and sustaining below 26480 can test 26420 - 26405 and on sustaining below it we can see a further correction till 26350 - 26295 next. Similarly in the coming session Bank Nifty breaking and sustaining above 26595 we can see a test of 26655 - 26670 initially and breaking and sustaining above it we can see a further move till 26725 - 26780 next . " , and Bank Nifty made a high of 26957.85 well above our next resistance zone and also closed well above it . Bank Nifty tested our cbsl of 26950 and has closed just below it and we might see the cbsl being taken if Bank Nifty sustains above 27065 in the coming session.

Now in the coming session Bank Nifty breaking and sustaining above 26975 can test 27045 - 27065 and on sustaining below it we can see a further upmove till 27125 - 27190 next. Similarly in the coming session Bank Nifty breaking and sustaining below 26845 we can see a test of 26775 - 26755 initially and breaking and sustaining above it we can see a further correction till 26695 - 26630 next . 

Bank Nifty Spot Levels for the day are

Long above 26975 for 27015 – 27065 – 27190 , SL 26890

Short below 26845 for 26805 – 26755 – 26630 , SL 26930

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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.