Bank Nifty Spot Outlook for 20th Jul

BANK NIFTY

Bank Nifty spot opened at 24069.20 , made a low of 24053.70 , it made a new life time high of 24180.75 before closing at a record high of 24152.65 .

Had mentioned that long positions can be taken above 24060 and short positions can be taken below 23985 .  Bank Nifty triggered our long trade and completed all our daily long targets . Bank Nifty also confirmed our weekly long trade and completed our initial 3 targets.

Had mentioned since the beginning of this week " Now in the coming sessions Bank Nifty needs to break and sustain / close above 24025 to test 24160 - 24190 levels initially and above it we can see a test of 24285 - 24390 levels next . Similarly Bank Nifty on breaking and sustaining / closing below 23830 levels can see a test of 23715 - 23690 levels initially and below it we can see a test of 23590 - 23485 levels next . Those who are holding longs now should move up their trailing cbsl to 23830  ." , and today we saw Bank Nifty test 24160 - 24190 on sustaining above  24025 by making a high of 24180.75 . Now in the coming session Bank Nifty needs to sustain / close above 24190 to test the next targets on the upside . Those who are holding longs should now move up their trailing cbsl to 23970 . 

Bank Nifty Spot Levels for the day are

Long above 24190 for 24215 – 24240 – 24310 , SL 24140

Short below 24115 for 24090 – 24065 – 23995 , SL 24165

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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.