Bank Nifty Spot Outlook for 19th Jun

BANK NIFTY

In the previous session Bank Nifty spot opened at 26444.30,  made a high of 26477.50 , it made a low of 26322.45 ,  before closing at 26409.30

Had mentioned that long trade for the day will get triggered on sustaining above 26455 and short trade for the day will get triggered on sustaining below 26380 . Bank Nifty initially triggered the long trade and took our stoploss . Bank Nifty then triggered our short trade and did around 55 points.

In the coming week Bank Nifty needs to break and sustain / close above 26520 to test 26625 - 26665 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 26450 to test 26490 - 26500 initially and sustaining above it we can see a further upmove till 26535 - 26575. Similarly breaking and sustaining below 26370 we can see a test of 26330 - 26320 initially and breaking and sustaining below it we can see a further correction till 26285 - 26245 . 

Bank Nifty Spot Levels for the day are

Long above 26450 for 26475 - 26500 - 26575 , SL 26395

Short below 26370 for 26345 - 26320 -  26245 , SL 26425

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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.