Bank Nifty Spot Outlook for 09th Jan

BANK NIFTY

Bank Nifty spot opened at 25690.25 ,made a high of 25771.50 ,  it made a low of 25643.80,   before closing at 25676.10  .

Had mentioned that long positions can be taken above 25650 for the day and short positions can be taken below 25555 .  Bank Nifty triggered our long trade and nearly completed all 3 targets . Had mentioned in the previous post " This week Bank Nifty needs to break and sustain above 25645 for a test of its immediate resistance levels of 25760 - 25785 initially ." , and Bank made a high of 25771.50 today .

Had mentioned in the previous post " Now in the coming session Bank Nifty breaking and sustaining below 25555 can test 25505 - 25495 and on sustaining below it we can see a further correction till 25455 - 25410 next. Similarly in the coming session Bank Nifty breaking and sustaining above 25650 we can see a test of 25695 - 25705 initially and breaking and sustaining above it we can see a further move till 25750 - 25795 next . " , and Bank Nifty made a high of 25771.50 within our next resistance zone .

Now in the coming session Bank Nifty breaking and sustaining below 25630 can test 25580 - 25570 and on sustaining below it we can see a further correction till 25525 - 25480 next. Similarly in the coming session Bank Nifty breaking and sustaining above 25725 we can see a test of 25770 - 25785 initially and breaking and sustaining above it we can see a further move till 25825 - 25870 next .

Bank Nifty Spot Levels for the day are

Long above 25725 for 25750 – 25785 – 25870 , SL 25660

Short below 25630 for 25600 – 25570 – 25480 , SL 25690

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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.