Wednesday, 4 April 2018

Bank Nifty Spot Outlook for 04th April

BANK NIFTY


Bank Nifty spot opened at 24284.95 , it made a low of 24254.35 ,  it made a high of 24538 before closing at 24510.60

Had mentioned that long positions can be taken above 24435 and short positions can be taken below 24220 . Bank Nifty triggered our long trade and completed just 1 target. 


Had mentioned in the previous post " Now in the coming week Bank Nifty breaking and sustaining above 24560 can test 24875 - 24955 and on sustaining above it we can a further upmove till 25225 - 25520 next .Similarly in the coming session Bank Nifty breaking and sustaining below 23965 we can see a test of 23655 - 23575 initially and breaking and sustaining below it we can see a further correction till 23305 - 23005 next "  , Bank Nifty had made a low of 24062.95 in the previous session but held above 23965 but it is yet to confirm our weekly long trade . 


Now for the month of April , Bank Nifty longs will get confirmed with a consecutive close above 24880 for a initial target of 25525 - 25690 and sustaining / closing above it we can see a further test of 26250 - 26865 . Similarly , shorts will get confirmed with a consecutive close below 23650 for a initial target of 23000 - 22835 and sustaining / closing below it we can see a further test of 22275 - 21665 .

Now in the coming session Bank Nifty breaking and sustaining above 24620 can test 24730 - 24760 and on sustaining above it we can see a further upmove till 24855 - 24960 next. Similarly in the coming session Bank Nifty breaking and sustaining below 24400 we can see a test of 24290 - 24265 initially and breaking and sustaining below it we can see a further correction till 24165 - 24060 next . 


Bank Nifty Spot Levels for the day are

Long above 24620 for 24685 
– 24760 – 24960 , SL 24475

Short below 24400 for 24340 – 24265 – 24060 , SL 24545

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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.