Sunday, 15 April 2018

Bank Nifty Spot Outlook for 16th Apr

BANK NIFTY


Bank Nifty spot opened at 25239.65 , it made a high of 25411.30,  it made a low of 25076.85 before closing at 25200.60

Had mentioned that long positions can be taken above 25295 and short positions can be taken below 25095. Bank Nifty initially triggered our long trade and nearly completed 2 targets . It then reversed to trigger our short trade but could not complete any target 

Now this week Bank Nifty breaking and sustaining above 25470 can test 25750 - 25825 and on sustaining above it we can a further upmove till 26070 - 26335 next .Similarly in the coming session Bank Nifty breaking and sustaining below 24930 we can see a test of 24650 - 24580 initially and breaking and sustaining below it we can see a further correction till 24335 - 24065 next .


Had mentioned previously " 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 initially . 

Now in the coming session Bank Nifty breaking and sustaining above 25305 can test 25410 - 25435 and on sustaining above it we can see a further upmove till 25530 - 25630 next. Similarly in the coming session Bank Nifty breaking and sustaining below 25100 we can see a test of 24995 - 24965 initially and breaking and sustaining below it we can see a further correction till 24875 - 24775 next . 


Bank Nifty Spot Levels for the day are

Long above 25305 for 25365 
– 25435 – 25630 , SL 25170

Short below 25100 for 25035 – 24965 – 24775 , SL 25230

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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.