Bank Nifty Spot Outlook for 27th Jun

BANK NIFTY

In the previous session Bank Nifty spot opened at 26495.65, it made a low of 26479.65 , then made a high of 26712.60 ,  before closing at 26601.70.

Had mentioned that long trade for the day will get triggered on sustaining above 26675 and short trade for the day will get triggered on sustaining below 26545 . Bank Nifty initially triggered our short trade by opening below our first short target . Bank Nifty then reversed and triggered our long trade and did just around 30 points .

Had mentioned previously " In the coming week Bank Nifty needs to break and sustain / close above 26930 to test 27100 - 27140 initially and above it we can see a test of 27290 - 27450 . Similarly Nifty needs to break and sustain / close below 26605 to test 26435 - 26390 initially and below it we can see a test of 26245 - 26085. ", and today Bank Nifty nearly did our initial weekly short targets and also triggered our weekly shorts with a borderline close.

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 26665 to test 26730 - 26745 initially and sustaining above it we can see a further upmove till 26800 - 26865. Similarly breaking and sustaining below 26540 we can see a test of 26475 - 26455 initially and breaking and sustaining below it we can see a further correction till 26400 - 26340. 

Bank Nifty Spot Levels for the day are

Long above 26665 for 26700 - 26745 - 26865 , SL 26580

Short below 26540 for 26500 - 26455 -  26340 , SL 26620

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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.