Tuesday, 17 April 2018

Bank Nifty Spot Outlook for 18th Apr

BANK NIFTY


Bank Nifty spot opened at 25383.75 , it made a high of 25402.55,  it made a low of 25224 before closing at 25344.35

Had mentioned that long positions can be taken above 25425 and short positions can be taken below 25220. Bank Nifty traded between our long and short trigger range the entire session.

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 25505 - 25525 and on sustaining above it we can see a further upmove till 25595 - 25675 next. Similarly in the coming session Bank Nifty breaking and sustaining below 25265 we can see a test of 25185 - 25165 initially and breaking and sustaining below it we can see a further correction till 25090 - 25015 next . 


Bank Nifty Spot Levels for the day are

Long above 25425 for 25470 
– 25525 – 25675 , SL 25320

Short below 25265 for 25220 – 25165 – 25015 , SL 25370

If you want to see the post in your Inbox , kindly register by adding your email id in  the 'Subscribe to my posts' section on the top right side of the blog. Also please give your valuable feedback by selecting the appropriate reactions box at the bottom of the post.

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.