Bank Nifty Spot Outlook for 21st Aug

BANK NIFTY

In the previous session Bank Nifty spot opened at 28171.65 which was also the low for the day , then made a high of 28322.30 before closing at 28274.25

Had mentioned that long trade for the day will get triggered on sustaining above 28215 and short trade for the day will get triggered on sustaining below 28040 . Bank Nifty triggered our long trade and did 100 points . 

As mentioned in the previous post "In this week Bank Nifty needs to break and sustain / close above 28355 to test 28595 - 28655 initially and above it we can see a test of 28865 - 29090 . Similarly Bank Nifty needs to break and sustain / close below 27900 to test 27660 - 27600 initially and below it we can see a test of 27395 - 27165." , and Bank Nifty is yet to confirm its weekly longs though Nifty has already confirmed .

 

Had mentioned previously " For the month of August ,Bank Nifty longs will get confirmed with a consecutive close above 28075 for a initial target of 28405 - 28490 and sustaining / closing above it we can see a further test of 28775 - 29085 . Similarly , shorts will get confirmed with a consecutive close below  27450 for a initial target of 27125 - 27040 and sustaining / closing below it we can see a further move till 26755 - 26445 . " , and  Bank Nifty has confirmed our monthly longs after the whipsaws of last week and holding above 28075 we can see a test of its immediate resistance of 28355 - 28425 . 

Now in the coming session Bank Nifty needs to break and sustain above 28360 to test 28450 - 28470 initially and sustaining above it we can see a further upmove till 28550 - 28635. Similarly breaking and sustaining below 28190 we can see a test of 28100 - 28080 initially and breaking and sustaining below it we can see a further correction till 28000 - 27915 

Bank Nifty Spot Levels for the day are

Long above 28360 for 28410 - 28470 - 28635 , SL 28250

Short below 28190 for 28140 - 28080 -  27915 , SL 28300

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Nifty Spot Outlook for 21st Aug

NIFTY

In the previous session Nifty spot opened at 11502.10 made a low of 11499.65 , then made a new lifetime high of 11565.30 ,   before closing at 11551.75

Had mentioned that long trade will get triggered for the day on sustaining above 11490 and short trade will get triggered for the day on sustaining below 11450. Nifty triggered our long trade and did 70 points. 

As mentioned in the previous post " In this week Nifty needs to break and sustain / close above 11525 to test 11585 - 11600 initially and above it we can see a test of 11650 - 11700 . Similarly Nifty needs to break and sustain / close below 11415 to test 11355 - 11340 initially and below it we can see a test of 11290 - 11235 ." , and today Nifty triggered our long trade for the week and we can see a test of 11585 - 11600 .

Had mentioned previously " For the month of August ,Nifty longs will get confirmed with a consecutive close above 11435 for a initial target of 11520 - 11540 and sustaining / closing above it we can see a further test of 11610 - 11690 . Similarly , shorts will get confirmed with a consecutive close below  11275 for a initial target of 11195 - 11175 and sustaining / closing below it we can see a further move till 11100 - 11025 .  Now Nifty has to break and sustain above 11525 for any further upmove else we can see a dip again till 11340 - 11325 where we  have immediate support. " , and Nifty has given a good close above 11525 and also completed our initial targets of 11520 - 11540 after the whipsaw in the previous week. Now holding above 11520 in the coming sessions we can see the next move till 11610 - 11690 . 

Now in the coming session Nifty needs to break and sustain above 11575 to test 11600 - 11605 initially and sustaining above it we can see a further upmove till 11625 - 11650. Similarly breaking and sustaining below 11530 we can see a test of 11505 - 11500 initially and breaking and sustaining below it we can see a further correction till 11480 - 11455. 

Nifty Spot Levels for the day are

Long above 11575 for 11590 - 11605 - 11650 , SL 11545

Short below 11530 for 11515 - 11500 - 11455 , SL 11560

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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.