Tuesday, 27 March 2018

Bank Nifty Spot Outlook for 28th Mar

BANK NIFTY


Bank Nifty spot opened at 24396.40 , it made a high of 24496.95 ,  it made a low of 24266.40 before closing at 24434.15

Had mentioned that long positions can be taken above 24355 for the day and short positions can be taken below 24135. Bank Nifty triggered our long trade for the day and completed 2 long targets . 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 had confirmed our weekly long trade in the previous session and today completed all our weekly long targets giving nearly 600+ points from the weekly trade . 

Had mentioned in the previous post " Now in the coming session Bank Nifty breaking and sustaining above 24355 can test 24470 - 24495 and on sustaining above it we can 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 "  , and today Bank Nifty made a high 24496.95 completing our initial targets .  


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 . Bank Nifty has now bounced nearly 900 points from the lows made last week .

Now in the coming session Bank Nifty breaking and sustaining above 24545 can test 24665 - 24695 and on sustaining above it we can see a further upmove till 24795 - 24910 next. Similarly in the coming session Bank Nifty breaking and sustaining below 24320 we can see a test of 24205 - 24175 initially and breaking and sustaining below it we can see a further correction till 24075 - 23960 next . 


Bank Nifty Spot Levels for the day are

Long above 24545 for 24615 
– 24695 – 24910 , SL 24400

Short below 24320 for 24255 – 24175 – 23960 , SL 24470

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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.