Monday, 24 July 2017

Bank Nifty Spot Outlook for 25th Jul


Bank Nifty spot opened at 24307.70 , made a low of 24234.65 , it made a new life time high of 24460.55 before closing at a record high of 24420.85 .

Had mentioned that long positions can be taken above 24285 and short positions can be taken below 24230 .  Bank Nifty initially triggered our long trade and completed all our daily long targets . It also confirmed our weekly long targets and completed our initial 3 weekly long targets .  

Had mentioned in the previous post " Now in the coming week Bank Nifty needs to break and sustain / close above 24335 to test 24415 - 24435 levels initially and above it we can see a further move till  24510 - 24585 . Similarly Bank Nifty on sustaining / closing below 24180 levels we can see a test of 24095 - 24075 levels initially and below it we can see a further move till 24005 - 23925 levels . Those who are holding longs should now move up their trailing cbsl further to 24075." , and today we saw Bank Nifty test our initial resistance levels and also closed within it . Now sustaining above 24435 levels in the coming sessions we can see a further move till 24510 - 24585 next . Those who are holding longs should now move up their trailing cbsl to 24280

Bank Nifty Spot Levels for the day are

Long above 24445 for 24460 
– 24475 – 24515 , SL 24415

Short below 24400 for 24385 – 24370 – 24325 , SL 24430

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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.

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