Bank Nifty Spot Outlook for 17th Jan

BANK NIFTY

Bank Nifty spot opened at 26129.15 ,made a high of 26136.40 ,  it made a low of 25931.70   before closing at 25974.90  .

Had mentioned that long positions can be taken above 26110 for the day and short positions can be taken below 26025 .  Bank Nifty opened near our 1st long target for the day and could not sustain . Bank Nifty then triggered our short trade  and completed all our short targets for the day . Bank Nifty had triggered our weekly long trade and completed all our weekly long targets in the previous sessions . Bank Nifty now needs to hold above 26050 for a test of 26245 - 26465 . 

Had mentioned in the previous post " Now in the coming session Bank Nifty breaking and sustaining below 26025 can test 25985 - 25970 and on sustaining below it we can see a further correction till 25935 - 25890 next. Similarly in the coming session Bank Nifty breaking and sustaining above 26110 we can see a test of 26155 - 26170 initially and breaking and sustaining above it we can see a further move till 26205 - 26250 next . " , and Bank Nifty made a low of 25931 within our next support zone for the day . 

Now in the coming session Bank Nifty breaking and sustaining below 25930 can test 25880 - 25870 and on sustaining below it we can see a further correction till 25830 - 25780 next. Similarly in the coming session Bank Nifty breaking and sustaining above 26020 we can see a test of 26070 - 26080 initially and breaking and sustaining above it we can see a further move till 26125 - 26170 next . 

Bank Nifty Spot Levels for the day are

Long above 26020 for 26050 – 26080 – 26170 , SL 25960

Short below 25930 for 25900 – 25870 – 25780 , SL 25990

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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.