Bank Nifty Spot Outlook for 31st Dec

BANK NIFTY

In the previous session Bank Nifty spot opened at 27048.40 , made a low of 27039.60,  made a high of 27213.45,  before closing at 27125.25 .

Had mentioned that long trade for the day will get triggered on sustaining above 26955 and short trade for the day will get triggered on sustaining below 26805 .Bank Nifty triggered our long trade with a gap up and completed all our targets still giving 150 points . 

For this week Bank Nifty needs to break and sustain / close above 27340 to test 27565 - 27625 initially and above it we can see a test of 27820 - 28035 . Similarly Bank Nifty needs to break and sustain / close below 26910 to test 26685 - 26625 initially and below it we can see a test of 26430 - 26215. 

For the month of January , longs will get confirmed with a consecutive close above 27290 for a initial target of 27725 - 27835 and sustaining / closing above it we can see a further test of 28210 - 28620 . Similarly , shorts will get confirmed with a consecutive close below  26465 for a initial target of 26035 - 25925 and sustaining / closing below it we can see a further move till 25550 - 25135. 

Now in the coming session Bank Nifty needs to break and sustain above 27205 to test 27295 - 27315 initially and sustaining above it we can see a further upmove till 27385 - 27470. Similarly breaking and sustaining below 27045 we can see a test of 26960 - 26935 initially and sustaining below it we can see a further correction till 26865 - 26780 .

Bank Nifty Spot Levels for the day are

Long above 27205 for 27255 - 27315 - 27470 , SL 27150

Short below 27045 for 26995 - 26935 - 26780 , SL 27100

This is the last post on Bank Nifty for this year and i would like to thank all the readers for their support towards the blog and i wish everyone a very happy , safe and prosperous new year 2019.

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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.