Monday, 9 April 2018

Bank Nifty Spot Outlook for 09th April

BANK NIFTY


Bank Nifty spot opened at 24776.35 , it made a low of 24626.40 ,  it made a high of 24933.60 before closing at 24873.15

Had mentioned that long positions can be taken above 24905 and short positions can be taken below 24615 . Bank Nifty traded between our long and short trigger for most part of the session and later triggered our long trade but could not complete any targets. 


Now in the coming week Bank Nifty breaking and sustaining above 25135 can test 25530 - 25635 and on sustaining above it we can a further upmove till 25975 - 26350 next .Similarly in the coming session Bank Nifty breaking and sustaining below 24385 we can see a test of 23990 - 23890 initially and breaking and sustaining below it we can see a further correction till 23550 - 23175 next . 


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 . Bank Nifty is yet to trigger our monthly long trade even though Nifty has triggered it today .

Now in the coming session Bank Nifty breaking and sustaining above 24905 can test 25050 - 25090 and on sustaining above it we can see a further upmove till 25220 - 25360 next. Similarly in the coming session Bank Nifty breaking and sustaining below 24615 we can see a test of 24470 - 24430 initially and breaking and sustaining below it we can see a further correction till 24300 - 24160 next . 


Bank Nifty Spot Levels for the day are

Long above 24905 for 24990 
– 25090 – 25360 , SL 24715

Short below 24615 for 24530 – 24430 – 24160 , SL 24805

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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.