Sunday, 19 January 2020

Bank Nifty Spot Outlook for 20th Jan

In the previous session : 



Bank Nifty went down by 407 points and closed lower by 262 points on Friday compared to its previous day's  close . 




Bank Nifty made a life time high of 32613.10 on 30th December and has since then been trading sideways to negative. 







As per levels given for 17th Jan Bank Nifty triggered our short trade and completed 260 points  . 


For 20th Jan  :



Sustaining above 31695 enter for 31760 - 31835 - 32030

Sustaining below 31485 enter for 31420 - 31350 - 31150

  • Bank Nifty is trading in divergence to the Nifty which has been making new highs . Now Bank Nifty needs to hold above 31225 - 31445  and bounce to expect a sharp rally towards 32000 again . Incase it fails to do so then Nifty would find it difficult to sustain at higher levels.



How to use these levels 

  • Enter on sustaining above/below the levels mentioned and look to book partly/fully once at the 2nd target as its placed at the resistance/support  . Re-enter if price sustains above / below the 2nd target with a trailing stoploss of the entry levels. 



For this month :

  • Bank Nifty longs will get confirmed with a consecutive close above 32565 for a initial target of 32990 - 33100 and sustaining / closing above 33100 we can see a further move till 33465 - 33865 .  

  • Bank Nifty shorts will get confirmed with a consecutive close below 31760 for  a initial target of 31335 - 31225 and sustaining / closing below 31225 we can see a further move till 30860 - 30460 . 

  • Bank Nifty confirmed its monthly short trade and has completed its initial targets and also nearly tested its next targets with a low of 30899.55 

  • Post that holding above 31225 we got a bounce towards 32300+ levels . Nqw Bank Nifty has again given a close below 31760 again triggering its monthly shorts and a consecutive close below it will put pressure on the Nifty too to sustain at higher levels,

  • Now Bank Nifty has a congestion zone around 32565 - 32625 and it has to give a strong  close above 32625 for the upward momentum to continue .


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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.

Nifty Spot Outlook for 20th Jan

In the previous session : 



Nifty went down by 34 points then went up by 29 points before closing lower by 3 points on Friday as compared to the previous day's close.




Nifty made a life time high of 12389.05 on 16th January and now it needs to give a strong close above its congestion zone of 12300 - 12375 for the upward momentum to continue else we can again see some profit booking and short selling from these levels . Today again Nifty failed to give a close above 12375.




  • As per levels given for 17th Jan, Nifty traded between our long and short trigger levels without giving a trade on either side indicating indecisiveness. Bank Nifty is in divergence to the moves in the Nifty as this week we can expect them to get aligned with either one catching up with the other.  
  • In the coming session one need to watch Bank Nifty if it holds above the previous weeks low and bounces to expect a sharp upmove else we may see Nifty not being able to sustain at higher levels. 
                                       

For 20th Jan  :




Sustaining above 12375 enter for 12390 - 12410 - 12455

Sustaining below 12330 enter for 12315 - 12295 - 12250






How to use these levels 

  • Enter on sustaining above/below the levels mentioned and look to book partly/fully once at the 2nd target as its placed at the resistance / support . Re-enter if price sustains above / below the 2nd target with a trailing stoploss of the entry levels. 



For this month :

  • As mentioned previously " Nifty longs will get confirmed with a consecutive close above 12305 for a initial target of 12445 - 12480 and sustaining / closing above 12480 we can see a further move till 12600 - 12735 ." , and has Nifty confirmed longs and we can should a move till 12445 - 12480. The only concern is that Bank Nifty is lagging behind and needs to catch up in the coming session and close the divergence else Nifty can halt and correct to catch up with Bank Nifty before moving up again.   

  • Nifty shorts will get confirmed with a consecutive close below 12035 for  a initial target of 11895 - 11855 and sustaining / closing below 11855 we can see a further move till 11735 - 11600 . 


  • Now Nifty has to give a strong close above 12375 for the upward momentum to continue else we can again see some selling pressure. 


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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.

Weekly Spot Outlook Of Bank Nifty For 20th to 24th Jan

In the previous week : 


Bank Nifty went up by 225 points and then went down by 652 points , before finally ending the week with a loss of 506 points compared to last weekly closing. 


Bank Nifty had made a life time high of 32613.10 on 30th December and has since then been trading sideways to negative. 


For this week :

Bank Nifty can face resistance at 31760 - 31865 &  above it at 32160 - 32235

Bank Nifty can take support at 31420 - 31315 & below it at 31025 - 30950

Targets expected on breaking resistance of 32235 are 32485 - 32760

Targets expected on breaking support of 30950 are 30700 - 30420 



How to use these levels 
  • Enter on breaking above/below the initial weekly resistance or support zone and look to book partly/fully once price enters the next resistance or support zone . Re-enter if price sustains or closes above / below the next resistance or support zone for final targets . 

For this month :
  • Bank Nifty longs will get confirmed with a consecutive close above 32565 for a initial target of 32990 - 33100 and sustaining / closing above 33100 we can see a further move till 33465 - 33865 .  

  • Nifty shorts will get confirmed with a consecutive close below 31760 for  a initial target of 31335 - 31225 and sustaining / closing below 31225 we can see a further move till 30860 - 30460 . 

  • Bank Nifty had confirmed monthly shorts once and we saw a low of 30899.55 near our last 2 targets . Post that we have seen a good bounce in Bank Nifty but it failed to confirm our monthly longs inspite of Nifty confirming it and holding well above it . Now once again Bank Nifty will confirm our monthly longs if it closes below 31760 on Monday . Closing above it we can expect one more bounce towards 32200+ levels and also a test of its all time high. 

  • Closing below 31760 on Monday will put pressure on Nifty too and the divergence between both the index has to be met this week by either one catching up with the other.

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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.

Weekly Spot Outlook Of Nifty For 20th to 24th Jan

In the previous week : 


Nifty went up by 132 points before finally ending the week with a gain of 95 points compared to last weekly closing. 

Nifty made a new life time high of 12389.05 on 16th January and now has to break and close strongly above 12400 for a further rally else we can again see profit booking and shorts taking place. 

For this week :


Nifty can face resistance at 12390 - 12415 & above it at 12485 - 12500

Nifty can take support at 12315 - 12290 & below it at 12220 - 12205

Targets expected on breaking resistance of 12500 is 12560 - 12625

Targets expected on breaking support of 12205 is 12145 - 12080 


How to use these levels 
  • Enter on breaking above/below the initial weekly resistance or support zone and look to book partly/fully once price enters the next resistance or support zone . Re-enter if price sustains or closes above / below the next resistance or support zone for final targets . 

For this month :
  • Nifty longs will get confirmed with a consecutive close above 12305 for a initial target of 12445 - 12480 and sustaining / closing above 12480 we can see a further move till 12600 - 12735 .  
  • Nifty longs have been confirmed and a move till 12445 - 12480 can be expected . The only drawback is that Bank Nifty is not in sync and has once again triggered its monthly sell and now needs to reverse on Monday to the upside.

  • Nifty shorts will get confirmed with a consecutive close below 12035 for  a initial target of 11895 - 11855 and sustaining / closing below 11855 we can see a further move till 11735 - 11600 . 


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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.