Tuesday, 30 January 2018

Bank Nifty Spot Outlook for 31st Jan

BANK NIFTY


Bank Nifty spot opened at 27446.10 , it made a high of 27470.25 ,  it made a low of 27242.05  before closing at 27269.05 .

Had mentioned that long positions can be taken above 27560 for the day and short positions can be taken below 27435 .  Bank Nifty initially triggered our short trade and nearly completed all 3 targets giving 175 points . 

Had mentioned in the previous post " Now in the coming session Bank Nifty breaking and sustaining above 27560 can test 27625 - 27645 and on sustaining above it we can see a further upmove till 27700 - 27765 next. Similarly in the coming session Bank Nifty breaking and sustaining below 27435 we can see a test of 27370 - 27355 initially and breaking and sustaining below it we can see a further correction till 27295 - 27235 next . " , and Bank Nifty made a low of 27242.05  .


Now in the coming session Bank Nifty breaking and sustaining above 27340 can test 27415 - 27435 and on sustaining above it we can see a further upmove till 27500 - 27575 next. Similarly in the coming session Bank Nifty breaking and sustaining below 27195 we can see a test of 27120 - 27100 initially and breaking and sustaining below it we can see a further correction till 27035 - 26965 next . 


Bank Nifty Spot Levels for the day are

Long above 27340 for 27385 
– 27435 – 27575 , SL 27245

Short below 27195 for 27150 – 27100 – 26965 , SL 27290

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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.