Wednesday, 11 April 2018

Bank Nifty Spot Outlook for 11th Apr

BANK NIFTY


Bank Nifty spot opened at 25153.60 , it made a low of 25120.20 ,  it made a high of 25279.90 before closing at 25226.80

Had mentioned that long positions can be taken above 25215 and short positions can be taken below 24975 . Bank Nifty triggered our long trade and barely completed our 1st target for the day. 

Now this 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 has confirmed our long trade and we can see a test of 25525 - 25690 . 

Now in the coming session Bank Nifty breaking and sustaining above 25330 can test 25440 - 25465 and on sustaining above it we can see a further upmove till 25560 - 25665 next. Similarly in the coming session Bank Nifty breaking and sustaining below 25125 we can see a test of 25015 - 24985 initially and breaking and sustaining below it we can see a further correction till 24890 - 24790 next . 


Bank Nifty Spot Levels for the day are

Long above 25330 for 25395 
– 25465 – 25665 , SL 25195

Short below 25125 for 25060 – 24985 – 24790 , SL 25260

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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.