Tuesday, 17 April 2018

Bank Nifty Spot Outlook for 17th Apr

BANK NIFTY


Bank Nifty spot opened at 25082.10 , it made a low of 25067.35,  it made a high of 25348.55 before closing at 25320.85

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 25425 can test 25530 - 25555 and on sustaining above it we can see a further upmove till 25650 - 25750 next. Similarly in the coming session Bank Nifty breaking and sustaining below 25220 we can see a test of 25115 - 25085 initially and breaking and sustaining below it we can see a further correction till 24995 - 24895 next . 


Bank Nifty Spot Levels for the day are

Long above 25425 for 25485 
– 25555 – 25750 , SL 25290

Short below 25220 for 25160 – 25085 – 24895 , SL 25350

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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.