Bank Nifty Spot Outlook for 26th Mar

BANK NIFTY

Bank Nifty spot opened at 23785.65 , it made a high of 23796.3 ,  it made a low of 23605.60 before closing at 23670.40

Had mentioned that long positions can be taken above 24215 for the day and short positions can be taken below 24070. Bank Nifty opened below our last target for the day and did not give a chance to enter . Now in the coming week Bank Nifty needs to break and sustain / close above 23855 to test 24050 - 24100 initially and above it 24265 - 24450 next. Similarly Bank Nifty needs to break and sustain / close below 23485 to test 23290 - 23240 initially and below it 23075 - 22890 next . 

Had mentioned in the previous post " Now in the coming session Bank Nifty breaking and sustaining above 24215 can test 24290 - 24310 and on sustaining above it we can a further upmove till 24375 - 24445 next .Similarly in the coming session Bank Nifty breaking and sustaining below 24070 we can see a test of 23995 - 23975 initially and breaking and sustaining below it we can see a further correction till 23910 - 23835 next "  , and today Bank Nifty opened at 23785.65 below our last target and a made a low of 23605.60 .

Had mentioned at the start of the month that " Now for the month of March , Bank Nifty longs will get confirmed with a consecutive close above 25620 for a initial target of 26155 - 26295 and sustaining / closing above it we can see a further test of 26755 - 27265 . Similarly , shorts will get confirmed with a consecutive close below 24595 for a initial target of 24055 - 23925 and sustaining / closing below it we can see a further test of 23455 - 22945 ." , and Bank Nifty has so far made a low of 23605.60 after triggering our monthly shorts . Now Bank Nifty has immediate resistance near 23925 - 24055 zone in the coming sessions .

Now in the coming session Bank Nifty breaking and sustaining above 23740 can test 23815 - 23835 and on sustaining above it we can see a further upmove till 23895 - 23965 next. Similarly in the coming session Bank Nifty breaking and sustaining below 23600 we can see a test of 23530 - 23510 initially and breaking and sustaining below it we can see a further correction till 23445 - 23375 next . 

Bank Nifty Spot Levels for the day are

Long above 23740 for 23785 – 23835 – 23965 , SL 23650

Short below 23600 for 23560 – 23510 – 23375 , SL 23690

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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.