Monday, 26 March 2018

Bank Nifty Spot Outlook for 27th Mar

BANK NIFTY


Bank Nifty spot opened at 23674.90 , it made a low of 23657.05 ,  it made a high of 24290.65 before closing at 24244

Had mentioned that long positions can be taken above 23740 for the day and short positions can be taken below 23600. Bank Nifty triggered our long trade for the day and completed all our long targets giving 225 points . Had mentioned in the previous post " Now in the coming week Bank Nifty needs to break and sustain / close above 23855 to test 24050 - 24100 initially and above it 24265 - 24450 next. Similarly Bank Nifty needs to break and sustain / close below 23485 to test 23290 - 23240 initially and below it 23075 - 22890 next ." , and Bank Nifty confirmed weekly long trade and tested our last long targets giving overall 500+ points. 

Had mentioned in the previous post " Now in the coming session Bank Nifty breaking and sustaining above 23740 can test 23815 - 23835 and on sustaining above it we can a further upmove till 23895 - 23965 next .Similarly in the coming session Bank Nifty breaking and sustaining below 23600 we can see a test of 23530 - 23510 initially and breaking and sustaining below it we can see a further correction till 23445 - 23375 next "  , and today Bank Nifty made a high 24290.65 after confirming our weekly long trade . 


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 23605.60 after triggering our monthly shorts . Now Bank Nifty has immediate resistance near 23925 - 24055 zone in the coming sessions .

Now in the coming session Bank Nifty breaking and sustaining above 24355 can test 24470 - 24495 and on sustaining above it we can see a further upmove till 24595 - 24705 next. Similarly in the coming session Bank Nifty breaking and sustaining below 24135 we can see a test of 24020 - 23990 initially and breaking and sustaining below it we can see a further correction till 23895 - 23785 next . 


Bank Nifty Spot Levels for the day are

Long above 24355 for 24420 
– 24495 – 24705 , SL 24210

Short below 24135 for 24070 – 23990 – 23785 , SL 24280

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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.