Tuesday, 23 January 2018

Bank Nifty Spot Outlook for 23rd Jan

BANK NIFTY


Bank Nifty spot opened at 26940.50 ,made a low of 26841.20 , it made a new lifetime high of 27074.90 ,   before closing at 27041.20.

Had mentioned that long positions can be taken above 26975 for the day and short positions can be taken below 26845 .  Bank Nifty initially just tested our short trade but could not sustain . Bank Nifty then triggered our long trade and completed 2 targets giving 90 points . 


Had mentioned in the previous post " Now in the coming session Bank Nifty breaking and sustaining above 26975 can test 27045 - 27065 and on sustaining above 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 below it we can see a further correction till 26695 - 26630 next . " , and Bank Nifty made a high of 27074.0  above our initial resistance zone .


Now in the coming session Bank Nifty breaking and sustaining above 27105 can test 27175 - 27195 and on sustaining below it we can see a further upmove till 27250 - 27315 next. Similarly in the coming session Bank Nifty breaking and sustaining below 26975 we can see a test of 26910 - 26890 initially and breaking and sustaining above it we can see a further correction till 26830 - 26765 next . 


Bank Nifty Spot Levels for the day are

Long above 27105 for 27145 
– 27195 – 27315 , SL 27020

Short below 26975 for 26935 – 26890 – 26765 , SL 27060

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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.