Bank Nifty Spot Outlook for 01st Feb

BANK NIFTY

Bank Nifty spot opened at 27136.25 , it made a low of 27116.95 ,  it made a high of 27455.75  before closing at 27379.45 .

Had mentioned that long positions can be taken above 27340 for the day and short positions can be taken below 27195 .  Bank Nifty initially triggered our short trade and nearly completed 2 targets before our TSL . Bank Nifty then triggered our long trade and completed 2 targets  . 

Had mentioned in the previous post " Now in the coming session Bank Nifty breaking and sustaining above 27340 can test 27415 - 27435 and on sustaining above it we can see a further upmove till 27500 - 27575 next. Similarly in the coming session Bank Nifty breaking and sustaining below 27195 we can see a test of 27120 - 27100 initially and breaking and sustaining below it we can see a further correction till 27035 - 26965 next . " , and Bank Nifty made a low of 27116.95  within our initial support zone and bounced back to go up and test our initial resistance zone.

Now in the coming session Bank Nifty breaking and sustaining above 27445 can test 27520 - 27540 and on sustaining above it we can see a further upmove till 27600 - 27665 next. Similarly in the coming session Bank Nifty breaking and sustaining below 27310 we can see a test of 27240 - 27220 initially and breaking and sustaining below it we can see a further correction till 27160 - 27090 next . 

Bank Nifty Spot Levels for the day are

Long above 27445 for 27490 – 27535 – 27665 , SL 27355

Short below 27310 for 27270 – 27220 – 27090 , SL 27400

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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.