Tuesday, 10 April 2018

Bank Nifty Spot Outlook for 10th Apr

BANK NIFTY


Bank Nifty spot opened at 24848.45 , it made a low of 24828 ,  it made a high of 25152.85 before closing at 25093.80

Had mentioned that long positions can be taken above 24905 and short positions can be taken below 24615 . Bank Nifty triggered our long trade and completed 2 targets for the day. 

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 25215 can test 25335 - 25370 and on sustaining above it we can see a further upmove till 25475 - 25595 next. Similarly in the coming session Bank Nifty breaking and sustaining below 24975 we can see a test of 24850 - 24820 initially and breaking and sustaining below it we can see a further correction till 24710 - 24595next . 


Bank Nifty Spot Levels for the day are

Long above 25215 for 25285 
– 25370 – 25595 , SL 25055

Short below 24975 for 24905 – 24820 – 24595 , SL 25130

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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.