Bank Nifty Spot Outlook for 12th Jun

BANK NIFTY

In the previous session Nifty spot opened at 26473.20,  made a high of 26653 , it made a low of 26421.95 ,  before closing at 26453.55 .

Had mentioned that long trade for the day will get triggered on sustaining above 26565 and short trade for the day will get triggered on sustaining below 26335 . Nifty triggered the long trade and did around 100 points.

In the coming week Bank Nifty needs to break and sustain / close above 26755 to test 27080 - 27160 initially and above it we can see a test of 27440 - 27745 . Similarly Nifty needs to break and sustain / close below 26145 to test 25825 - 25740 initially and below it we can see a test of 25465 - 25160 . 

For the month of June ,Bank Nifty longs will get confirmed with a consecutive close above 27560 for a initial target of 28195 - 28360 and sustaining / closing above it we can see a further test of 28905 - 29510 . Similarly , shorts will get confirmed with a consecutive close below  26350 for a initial target of 25715 - 25555 and sustaining / closing below it we can see a further move till 25010 - 24405 . 

Now in the coming session Bank Nifty needs to break and sustain above 26560 to test 26670 - 26700 initially and sustaining above it we can see a further upmove till 26795 - 26900. Similarly breaking and sustaining below 26350 we can see a test of 26235 - 26210 initially and breaking and sustaining below it we can see a further correction till 26110 - 26005. 

Nifty Spot Levels for the day are

Long above 26560 for 26625 - 26700 - 26900 , SL 26420

Short below 26350 for 26285 - 26210 - 26005 , SL 26485

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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.