Friday, 23 March 2018

Bank Nifty Spot Outlook for 23rd Mar

BANK NIFTY


Bank Nifty spot opened at 24252.95 , it made a high of 24314.40 ,  it made a low of 24094.85 before closing at 24141.50

Had mentioned that long positions can be taken above 24330 for the day and short positions can be taken below 24180. Bank Nifty triggered our short trade and nearly completed 2 targets . 

Had mentioned in the previous post " Now in the coming session Bank Nifty breaking and sustaining above 24330 can test 24410 - 24430 and on sustaining above it we can a further upmove till 24495 - 24570 next .Similarly in the coming session Bank Nifty breaking and sustaining below 24180 we can see a test of 24105 - 24085 initially and breaking and sustaining below it we can see a further correction till 24015 - 23940 next "  , and today Bank Nifty made a low of 24094.85 within our initial support zone . 


Had mentioned at the start of the month that " Now for the month of March , Bank Nifty longs will get confirmed with a consecutive close above 25620 for a initial target of 26155 - 26295 and sustaining / closing above it we can see a further test of 26755 - 27265 . Similarly , shorts will get confirmed with a consecutive close below 24595 for a initial target of 24055 - 23925 and sustaining / closing below it we can see a further test of 23455 - 22945 . " , and Bank Nifty has so far made a low of 24048.55 testing our initial short target below 24595 after triggering our monthly shorts . Now Bank Nifty has immediate support near 24055 - 23925 zone in the coming sessions which once broken and sustained can take us to our next targets .

Now in the coming session Bank Nifty breaking and sustaining above 24215 can test 24290 - 24310 and on sustaining above it we can see a further upmove till 24375 - 24445 next. Similarly in the coming session Bank Nifty breaking and sustaining below 24070 we can see a test of 23995 - 23975 initially and breaking and sustaining below it we can see a further correction till 23910 - 23835 next . 


Bank Nifty Spot Levels for the day are

Long above 24215 for 24260 
– 24310 – 24445 , SL 24120

Short below 24070 for 24025 – 23975 – 23835 , SL 24165

If you want to see the post in your Inbox , kindly register by adding your email id in  the 'Subscribe to my posts' section on the top right side of the blog. Also please give your valuable feedback by selecting the appropriate reactions box at the bottom of the post.

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.