Bank Nifty Spot Outlook for 18th Jun

BANK NIFTY

In the previous session Bank Nifty spot opened at 26513.70,  made a high of 26586.40 , it made a low of 26344.95 ,  before closing at 26417.40

Had mentioned that long trade for the day will get triggered on sustaining above 26625 and short trade for the day will get triggered on sustaining below 26495 . Bank Nifty triggered the short trade and did around 150 points.

In the coming week Bank Nifty needs to break and sustain / close above 26520 to test 26625 - 26655 initially and above it we can see a test of 26750 - 26850 . Similarly Nifty needs to break and sustain / close below 26315 to test 26210 - 26180 initially and below it we can see a test of 26090 - 25985 .

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 26455 to test 26495 - 26510 initially and sustaining above it we can see a further upmove till 26545 - 26580. Similarly breaking and sustaining below 26380 we can see a test of 26340 - 26325 initially and breaking and sustaining below it we can see a further correction till 26295 - 26255. 

Bank Nifty Spot Levels for the day are

Long above 26455 for 26480 - 26510 - 26580 , SL 26405

Short below 26380 for 26355 - 26325 -  26255 , SL 26580

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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.