Thursday, 1 February 2018

Bank Nifty Spot Outlook for 02nd Feb

BANK NIFTY


Bank Nifty spot opened at 27334.85 , it made a low of 27046.35 ,  it made a high of 27613.50  before closing at 27220.70 .

Had mentioned that long positions can be taken above 27445 for the day and short positions can be taken below 27310 .  Bank Nifty kept swinging both sides today , it triggered our short trade and completed all our targets . Bank Nifty then triggered our long trade and  completed 2 targets before our TSL . 

Had mentioned in the previous post " Now in the coming session Bank Nifty breaking and sustaining above 27445 can test 27520 - 27540 and on sustaining above it we can see a further upmove till 27600 - 27665 next. Similarly in the coming session Bank Nifty breaking and sustaining below 27310 we can see a test of 27240 - 27220 initially and breaking and sustaining below it we can see a further correction till 27160 - 27090 next . " , and Bank Nifty made a low of 27046.35 below our next support zone and bounced back to make a high of 27613.50 within our next resistance zone . 


Now in the coming session Bank Nifty breaking and sustaining above 27295 can test 27370 - 27390 and on sustaining above it we can see a further upmove till 27455 - 27530 next. Similarly in the coming session Bank Nifty breaking and sustaining below 27150 we can see a test of 27075 - 27050 initially and breaking and sustaining below it we can see a further correction till 26985 - 26915 next . 


Bank Nifty Spot Levels for the day are

Long above 27295 for 27340 
– 27390 – 27530 , SL 27200

Short below 27150 for 27105 – 27050 – 26915 , SL 27245

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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.