Thursday, 30 March 2017

Bank Nifty Spot Outlook for 31st March

BANK NIFTY


Bank Nifty spot opened at 21374.35 and made a low of 21331.90 , it went up till 21696 before closing at 21620.70 . Had mentioned that long positions can be taken above 21449 and short positions can be taken below 21334 for the day . 

Bank Nifty tested our short trigger for the day and immediately reversed . It then triggered and competed all our long targets for the day giving nearly 200 points from the long trade . Bank Nifty had confirmed our weekly long trade in the previous session and had completed our initial 3 targets . Today further upmove also got confirmed on sustaining above 21536 and we saw a quick upmove of 150+ points once it was done . Now only the last long target is pending . Nifty was yet to confirm its weekly long in the previous session and has today given a borderline close at its long confirmation levels a tad below its weekly long trigger price .


Now for this week Bank Nifty needs to break and sustain above 21300 for long confirmation, then we can expect a move till 21410 - 21488 levels initially and closing above 21536 we can expect the next move till 21698 - 21876 . Similarly Bank Nifty needs to break and sustain below 20945 for short confirmation then we can expect a move till 20835 - 20757 levels initially and closing below 20709 we can expect a further move till 20547 - 20369. Today Bank Nifty came close to testing our expected levels of 21698 - 21876 on sustaining above 21536 with a high of 21696. 


For the month of March we can expect uptrend to continue in Bank Nifty spot on a consecutive closing above 20932 and downtrend on a consecutive closing below 20283 '  . For the month of March,  Bank Nifty has so far give a move of nearly 750+ points till now after breaking above our monthly long confirmation level with todays high .


Fresh positions built after breaking above our monthly long confirmation levels should keep a cbsl of 20708 for their positions .

For today if Bank Nifty spot sustains above 21683 we can see a initial move till 21748 & on sustaining above 21764 we may see further move till 21882 . Similarly if Bank Nifty spot sustains below 21559 we may see a initial move on the downside till 21494 &  on sustaining below 21477 we may see further move till 21359.


Bank Nifty Spot Levels for the day are

Long above 21682 for 21721 
– 21764 – 21882 , SL 21602

Short below 21559 for 21521 – 21477 – 21359 , SL 21640

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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.

Nifty Spot Outlook for 31st March

NIFTY


Nifty spot  opened  at 9142.60 , made a low of 9136.35 , it went up till 9183.15 before closing at 9173.75 . Had mentioned that long positions can be taken above 9163 and short positions can be taken below 9125. 

Nifty triggered our long trade and missed our 2nd target by 5 points . Nifty also closed just 0.25 points below our weekly long confirmation levels today . If it sustains above today's close then we should retest of the highs made this month .


We are still above our long confirmation levels of 8966 for this month and the cbsl for the fresh positions taken on closing above our long confirmation levels is 8906 . As long as we are holding it we can look to buy the dips.


Now for this week Nifty Spot needs to break and sustain above 9174 for long confirmationthen we can expect a move till 9215 - 9244 initially and closing above 9261 we can expect the next move till 9321 - 9387 . Similarly this week Nifty spot needs to break and sustain below 9042 for short confirmation, then we can expect a move till 9001 - 8972 initially and closing below 8955 we can expect a further move till 8895 - 8829  . Today Nifty has given a borderline close on our weekly long confirmation levels whereas Bank Nifty has already completed 5 targets and only 1 target is pending for the week.


For the month of March we can expect uptrend in Nifty spot on a consecutive closing above 8966 and downtrend on a consecutive closing below 8793 . We have seen a move of nearly 250+ points after sustaining / closing above our monthly long confirmation level. 

Those who now looking to enter fresh longs on a correction should keep a cbsl of 8906 spot for their positions. 

We had initiated longs with a cbsl of 7895 spot in December and had moved up our trailing cbsl to 9071 spot which has been taken last week . As mentioned in the previous post 'Though our trailing cbsl is taken we are still above our monthly long confirmation levels and Nifty may take some support near 8966 - 8933 levels near our monthly long trigger levels in the coming sessions incase we break and sustain below 9006 '.  Nifty has made a low of 9024.65 for this week and did not break 9006 for a further correction.

For today if Nifty spot sustains above 9193 we can see a initial move on the upside till 9214 & on sustaining above 9219 we may see further move till 9256 . Similarly if Nifty spot sustains below 9154 we may see a initial move on the downside till 9134 & on sustaining below 9129 we may see a further move till 9092 .


Nifty Spot Levels for the day are

Long above 9193 for 9205 - 9219 - 9256 , SL 9168

Short below 9154 for 9142 - 9129 - 9092 , SL 9180


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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.

Wednesday, 29 March 2017

Bank Nifty Spot Outlook for 30th March

BANK NIFTY


Bank Nifty spot opened at 21291.45 and made a low of 21255.75 , it went up till 21418.60 before closing at 21391.15 . Had mentioned that long positions can be taken above 21280 and short positions can be taken below 21171 for the day . 

Bank Nifty triggered our long trade and missed our last target of the day by 29 points. Bank Nifty today confirmed our weekly long trade and completed our initial 3 long targets for the week . Further upmove will come now on sustaining above 21536 . Today though Bank Nifty has confirmed its weekly long and also completed its initial 3 targets , Nifty is yet to even confirm its weekly long and has also closed a tad below its weekly long trigger price .


Now for this week Bank Nifty needs to break and sustain above 21300 for long confirmation, then we can expect a move till 21410 - 21488 levels initially and closing above 21536 we can expect the next move till 21698 - 21876 . Similarly Bank Nifty needs to break and sustain below 20945 for short confirmation then we can expect a move till 20835 - 20757 levels initially and closing below 20709 we can expect a further move till 20547 - 20369. Today Bank Nifty has confirmed its weekly longs and tested the initial resistance zone of 21410 - 21488 with a high of 21418.60 . Further upmove will come only on breaking and sustaining above 21536 .


For the month of March we can expect uptrend to continue in Bank Nifty spot on a consecutive closing above 20932 and downtrend on a consecutive closing below 20283 '  . In February had mentioned 19958 closing as the long confirmation level for Bank Nifty and we saw a move of 1050+ points after Bank Nifty gave a consecutive close above the monthly long confirmation level . For the month of March,  Bank Nifty has so far give a move of nearly 400+ points till now after breaking above our monthly long confirmation level. We are at the expiry day for March series and we can expect some swings and it would also be interesting to see where we close the month to understand the next moves for the coming financial year.


Had been mentioning that 'Those who are holding longs or those who are looking to enter fresh longs on a correction should keep a cbsl of 20896 spot for their positions' and we saw the trailing cbsl being taken which were for positions entered at much lower levels . Fresh positions built after breaking above our monthly long confirmation levels should keep a cbsl of 20708 for their positions .

For today if Bank Nifty spot sustains above 21449 we can see a initial move till 21509 & on sustaining above 21525 we may see further move till 21635 . Similarly if Bank Nifty spot sustains below 21334 we may see a initial move on the downside till 21273 &  on sustaining below 21258 we may see further move till 21148 .


Bank Nifty Spot Levels for the day are

Long above 21449 for 21484 
– 21525 – 21635 , SL 21373

Short below 21334 for 21298 – 21258 – 21148 , SL 21409


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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.

Nifty Spot Outlook for 30th March

NIFTY


Nifty spot  opened  at 9128.70 , made a low of 9109.10 , it went up till 9153.15 before closing at 9143.80 . Had mentioned that long positions can be taken above 9121 and short positions can be taken below 9081. 

Nifty triggered our long trade and completed 2 targets for the day. Nifty today tested our weekly long trigger levels momentarily but could show further strength to test the confirmation levels and closed a tad below our trigger levels . 

Have been mentioning since November that ' A deeper downmove can be expected on a consecutive close below 7895 ' and we had seen Nifty make a low of 7893.80 in the last week of December. Nifty has gained nearly 1300+ points after holding the cbsl of 7895 till now.    Those who are holding longs should move up their cbsl to 9071 spot for their positions . We saw last week that our  trailing cbsl for long positions entered near 7900 - 8000 has been taken  .  We are still above our long confirmation levels of 8966 for this month and the cbsl for the fresh positions taken on closing above our long confirmation levels is 8906 . As long as we are holding it we can look to buy the dips.


Now for this week Nifty Spot needs to break and sustain above 9174 for long confirmationthen we can expect a move till 9215 - 9244 initially and closing above 9261 we can expect the next move till 9321 - 9387 . Similarly this week Nifty spot needs to break and sustain below 9042 for short confirmation, then we can expect a move till 9001 - 8972 initially and closing below 8955 we can expect a further move till 8895 - 8829  . 


For the month of March we can expect uptrend in Nifty spot on a consecutive closing above 8966 and downtrend on a consecutive closing below 8793 . In February had mentioned 8696 closing as the long confirmation level for Nifty and we saw a move of 275+ points after Nifty gave a consecutive close above the monthly long confirmation level .This month too till now Nifty has given a move of nearly 250+ points after sustaining / closing above our monthly long confirmation level. We are now at the last expiry session for March series and we can expect some swings and it would also be interesting to see where we close the month to understand the next moves for the coming financial year.

Those who now looking to enter fresh longs on a correction should keep a cbsl of 8906 spot for their positions. 

We had initiated longs with a cbsl of 7895 spot in December and had moved up our trailing cbsl to 9071 spot which has been taken last week . As mentioned in the previous post 'Though our trailing cbsl is taken we are still above our monthly long confirmation levels and Nifty may take some support near 8966 - 8933 levels near our monthly long trigger levels in the coming sessions incase we break and sustain below 9006 '.  Nifty has made a low of 9024.65 for this week till now before recovering .

For today if Nifty spot sustains above 9163 we can see a initial move on the upside till 9183 & on sustaining above 9188 we may see further move till 9224 . Similarly if Nifty spot sustains below 9125 we may see a initial move on the downside till 9105 & on sustaining below 9100 we may see a further move till 9063 .


Nifty Spot Levels for the day are

Long above 9163 for 9175 - 9188 - 9224 , SL 9138

Short below 9125 for 9113 - 9100 - 9063 , SL 9150

The expected expiry range is as follows

Upper End - 9202 

Lower End - 9086

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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.

Tuesday, 28 March 2017

Bank Nifty Spot Outlook for 29th March

BANK NIFTY


Bank Nifty spot opened at 21229 and made a high of 21264.95 , it went down till 21145 before closing at 21225.40 . Had mentioned that long positions can be taken above 21107 and short positions can be taken below 21007 for the day . 

Bank Nifty triggered our long trade with a gap up above our 2nd target for the day . It missed our last daily target by 5 points . In the previous session Bank Nifty had triggered our weekly short but failed to break below the confirmation level of 20945 and had reversed well above it giving a indication it was not yet ready to correct . We saw our trailing cbsl being taken last week which were for positions taken at lower levels . 


Now for this week Bank Nifty needs to break and sustain above 21300 for long confirmation, then we can expect a move till 21410 - 21488 levels initially and closing above 21536 we can expect the next move till 21698 - 21876 . Similarly Bank Nifty needs to break and sustain below 20945 for short confirmation then we can expect a move till 20835 - 20757 levels initially and closing below 20709 we can expect a further move till 20547 - 20369


For the month of March we can expect uptrend to continue in Bank Nifty spot on a consecutive closing above 20932 and downtrend on a consecutive closing below 20283 '  . In February had mentioned 19958 closing as the long confirmation level for Bank Nifty and we saw a move of 1050+ points after Bank Nifty gave a consecutive close above the monthly long confirmation level . For the month of March,  Bank Nifty has so far give a move of nearly 400+ points till now after breaking above our monthly long confirmation level. We are entering the expiry week for March series and we can expect some swings and it would also be interesting to see where we close the month to understand the next moves for the coming financial year.


Had been mentioning that 'Those who are holding longs or those who are looking to enter fresh longs on a correction should keep a cbsl of 20896 spot for their positions' and we saw the trailing cbsl being taken which were for positions entered at much lower levels . Fresh positions built after breaking above our monthly long confirmation levels should keep a cbsl of 20708 for their positions .

For today if Bank Nifty spot sustains above 21280 we can see a initial move till 21338 & on sustaining above 21352 we may see further move till 21457 . Similarly if Bank Nifty spot sustains below 21171 we may see a initial move on the downside till 21113 &  on sustaining below 21099 we may see further move till 20994 .


Bank Nifty Spot Levels for the day are

Long above 21280 for 21314 
– 21352 – 21457 , SL 21209

Short below 21171 for 21137 – 21099 – 20994 , SL 21242


If you want to see the post in your Inbox , kindly register by adding your email id in  the 'Subscribe to my posts' section on the top right side of the blog. Also please give your valuable feedback by selecting the appropriate box at the bottom of the post.

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.

Nifty Spot Outlook for 29th March

NIFTY


Nifty spot  opened  at 9081.50 , made a low of 9079.80 , it went up till 9110.40 before closing at 9100.80 . Had mentioned that long positions can be taken above 9064 and short positions can be taken below 9027 . 

Nifty triggered our long trade at opening and missed our last daily target by 14 points . Nifty had in the previous session completed 2 weekly shorts targets intraday but had failed to close below the short confirmation levels indicating it reverse .  As mentioned in the previous posts 'Though we saw our trailing cbsl being taken last week , we need to remember that we are still above our long confirmation levels for this month of 8966 and the trailing cbsl was for the positions which were built at much lower levels '


Have been mentioning since November that ' A deeper downmove can be expected on a consecutive close below 7895 ' and we had seen Nifty make a low of 7893.80 in the last week of December. Nifty has gained nearly 1300+ points after holding the cbsl of 7895 till now.    Those who are holding longs should move up their cbsl to 9071 spot for their positions . We saw last week that our  trailing cbsl for long positions entered near 7900 - 8000 has been taken  .  We are still above our long confirmation levels of 8966 for this month and the cbsl for the fresh positions taken on closing above our long confirmation levels is 8906 . As long as we are holding it we can look to buy the dips.


Now for this week Nifty Spot needs to break and sustain above 9174 for long confirmationthen we can expect a move till 9215 - 9244 initially and closing above 9261 we can expect the next move till 9321 - 9387 . Similarly this week Nifty spot needs to break and sustain below 9042 for short confirmation, then we can expect a move till 9001 - 8972 initially and closing below 8955 we can expect a further move till 8895 - 8829  . 


For the month of March we can expect uptrend in Nifty spot on a consecutive closing above 8966 and downtrend on a consecutive closing below 8793 . In February had mentioned 8696 closing as the long confirmation level for Nifty and we saw a move of 275+ points after Nifty gave a consecutive close above the monthly long confirmation level .This month too till now Nifty has given a move of nearly 250+ points after sustaining / closing above our monthly long confirmation level. We are now in the last 2 sessions of expiry for March series and we can expect some swings and it would also be interesting to see where we close the month to understand the next moves for the coming financial year.

Those who now looking to enter fresh longs on a correction should keep a cbsl of 8906 spot for their positions. 

We had initiated longs with a cbsl of 7895 spot in December and had moved up our trailing cbsl to 9071 spot which has been taken last week . As mentioned in the previous post 'Though our trailing cbsl is taken we are still above our monthly long confirmation levels and Nifty may take some support near 8966 - 8933 levels near our monthly long trigger levels in the coming sessions incase we break and sustain below 9006 '.  Nifty has made a low of 9024.65 for this week till now before recovering .

For today if Nifty spot sustains above 9121 we can see a initial move on the upside till 9142 & on sustaining above 9148 we may see further move till 9186 . Similarly if Nifty spot sustains below 9081 we may see a initial move on the downside till 9059 & on sustaining below 9054 we may see a further move till 9016 .


Nifty Spot Levels for the day are

Long above 9121 for 9133 - 9148 - 9186 , SL 9095

Short below 9081 for 9068 - 9054 - 9016 , SL 9107

If you want to see the post in your Inbox , kindly register by adding your email id in  the 'Subscribe to my posts' section on the top right side of the blog. Also please give your valuable feedback by selecting the appropriate box at the bottom of the post.

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.

Monday, 27 March 2017

Bank Nifty Spot Outlook for 28th March

BANK NIFTY


Bank Nifty spot opened at 21178.10 and made a high of 21179.20, then went down till 20979.55 before closing at 21056.90 . Had mentioned that long positions can be taken above 21190 and short positions can be taken below 21055 for the day . 

Bank Nifty had triggered our short trade and missed our 2nd target by 14 points giving just 50 points from the short trade . Bank Nifty had triggered our weekly short but failed to break below the confirmation level of 20945 and reversed well above it . We saw our trailing cbsl being taken last week which were for positions taken at lower levels . 


Now for this week Bank Nifty needs to break and sustain above 21300 for long confirmation, then we can expect a move till 21410 - 21488 levels initially and closing above 21536 we can expect the next move till 21698 - 21876 . Similarly Bank Nifty needs to break and sustain below 20945 for short confirmation then we can expect a move till 20835 - 20757 levels initially and closing below 20709 we can expect a further move till 20547 - 20369


For the month of March we can expect uptrend to continue in Bank Nifty spot on a consecutive closing above 20932 and downtrend on a consecutive closing below 20283 '  . In February had mentioned 19958 closing as the long confirmation level for Bank Nifty and we saw a move of 1050+ points after Bank Nifty gave a consecutive close above the monthly long confirmation level . For the month of March,  Bank Nifty has so far give a move of nearly 400+ points till now after breaking above our monthly long confirmation level. We are entering the expiry week for March series and we can expect some swings and it would also be interesting to see where we close the month to understand the next moves.


Had been mentioning that 'Those who are holding longs or those who are looking to enter fresh longs on a correction should keep a cbsl of 20896 spot for their positions' and we saw the trailing cbsl being taken which were for positions entered at much lower levels . Fresh positions built after breaking above our monthly long confirmation levels should keep a cbsl of 20708 for their positions .

For today if Bank Nifty spot sustains above 21107 we can see a initial move till 21160 & on sustaining above 21174 we may see further move till 21270 . Similarly if Bank Nifty spot sustains below 21007 we may see a initial move on the downside till 20953 &  on sustaining below 20940 we may see further move till 20844 .


Bank Nifty Spot Levels for the day are

Long above 21107 for 21138 
– 21174 – 21270 , SL 21041

Short below 21007 for 20976 – 20940 – 20844 , SL 21072


If you want to see the post in your Inbox , kindly register by adding your email id in  the 'Subscribe to my posts' section on the top right side of the blog. Also please give your valuable feedback by selecting the appropriate box at the bottom of the post.

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.

Nifty Spot Outlook for 28th March

NIFTY


Nifty spot  opened  at 9093.45 , made a high of 9094.85 , it then went down till 9024.65 before closing at 9045.20 . Had mentioned that long positions can be taken above 9133 and short positions can be taken below 9083 . 

Nifty triggered our short trade and missed our last target by 21 points still giving around 40 points from the short trade . Nifty had also triggered our weekly short trade and completed 2 targets before recovering . It failed to close below our weekly short confirmation level . We saw buying coming in again near 9020 levels but the bounce back could not sustain at higher levels . As mentioned in the previous post 'Though we saw our trailing cbsl being taken last week , we need to remember that we are still above our long confirmation levels for this month of 8966 and the trailing cbsl was for the positions which were built at much lower levels '


Have been mentioning since November that ' A deeper downmove can be expected on a consecutive close below 7895 ' and we had seen Nifty make a low of 7893.80 in the last week of December. Nifty has gained nearly 1300+ points after holding the cbsl of 7895 till now.    Those who are holding longs should move up their cbsl to 9071 spot for their positions . We saw last week that our  trailing cbsl for long positions entered near 7900 - 8000 has been taken  .  We are still above our long confirmation levels of 8966 for this month and the cbsl for the fresh positions taken on closing above our long confirmation levels is 8906 . As long as we are holding it we can look to buy the dips.


Now for this week Nifty Spot needs to break and sustain above 9174 for long confirmationthen we can expect a move till 9215 - 9244 initially and closing above 9261 we can expect the next move till 9321 - 9387 . Similarly this week Nifty spot needs to break and sustain below 9042 for short confirmation, then we can expect a move till 9001 - 8972 initially and closing below 8955 we can expect a further move till 8895 - 8829  . Today Nifty broke and sustained for a while below 9042 but failed to give a close below it and closed marginally higher by 3 points . We need to note that Bank Nifty has closed way above its weekly short levels .


For the month of March we can expect uptrend in Nifty spot on a consecutive closing above 8966 and downtrend on a consecutive closing below 8793 . In February had mentioned 8696 closing as the long confirmation level for Nifty and we saw a move of 275+ points after Nifty gave a consecutive close above the monthly long confirmation level .This month too till now Nifty has given a move of nearly 250+ points after sustaining / closing above our monthly long confirmation level. We are entering the expiry week for March series and we can expect some swings and it would also be interesting to see where we close the month to understand the next moves.

Those who now looking to enter fresh longs on a correction should keep a cbsl of 8906 spot for their positions. 

We had initiated longs with a cbsl of 7895 spot in December and had moved up our trailing cbsl to 9071 spot which has been taken last week . As mentioned in the previous post 'Though our trailing cbsl is taken we are still above our monthly long confirmation levels and Nifty may take some support near 8966 - 8933 levels near our monthly long trigger levels in the coming sessions incase we break and sustain below 9006 '.  Today we saw Nifty make a low of 9024.65 and recover intraday.

For today if Nifty spot sustains above 9064 we can see a initial move on the upside till 9083 & on sustaining above 9088 we may see further move till 9124 . Similarly if Nifty spot sustains below 9027 we may see a initial move on the downside till 9007 & on sustaining below 9002 we may see a further move till 8966 .


Nifty Spot Levels for the day are

Long above 9064 for 9075 - 9088 - 9124 , SL 9039

Short below 9027 for 9015 - 9002 - 8966 , SL 9051

If you want to see the post in your Inbox , kindly register by adding your email id in  the 'Subscribe to my posts' section on the top right side of the blog. Also please give your valuable feedback by selecting the appropriate box at the bottom of the post.

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.

Sunday, 26 March 2017

Bank Nifty Spot Outlook for 27th March

BANK NIFTY


Bank Nifty spot opened at 20987.60 and made a high of 21174.10, then went down till 20929.15 before closing at 21122.55 . Had not posted the daily levels on Friday due to connectivity issues . 

Bank Nifty had triggered our short trade last week and corrected nearly 300+ points . We saw buying coming in at lower levels which helped Bank Nifty close above 21100 levels for the week . We saw our trailing cbsl being taken last week which were for positions taken at lower levels . 


Now for this week Bank Nifty needs to break and sustain above 21059 for long confirmation, then we can expect a move till 21160 - 21232 levels initially and closing above 21276 we can expect the next move till 21425 - 21588 . Similarly Bank Nifty needs to break and sustain below 20732 for short confirmation then we can expect a move till 20631 - 20559 levels initially and closing below 20515 we can expect a further move till 20366 - 20203 . 


For the month of March we can expect uptrend to continue in Bank Nifty spot on a consecutive closing above 20932 and downtrend on a consecutive closing below 20283 '  . In February had mentioned 19958 closing as the long confirmation level for Bank Nifty and we saw a move of 1050+ points after Bank Nifty gave a consecutive close above the monthly long confirmation level . For the month of March,  Bank Nifty has so far give a move of nearly 400+ points till now after breaking above our monthly long confirmation level. We are entering the expiry week for March series and we can expect some swings and it would also be interesting to see where we close the month to understand the next moves.


Had been mentioning that 'Those who are holding longs or those who are looking to enter fresh longs on a correction should keep a cbsl of 20896 spot for their positions' and we saw the trailing cbsl being taken which were for positions entered at much lower levels . Fresh positions built after breaking above our monthly long confirmation levels should keep a cbsl of 20708 for their positions .

For today if Bank Nifty spot sustains above 21190 we can see a initial move till 21261 & on sustaining above 21279 we may see further move till 21407 . Similarly if Bank Nifty spot sustains below 21055 we may see a initial move on the downside till 20984 &  on sustaining below 20966 we may see further move till 20838 .


Bank Nifty Spot Levels for the day are

**Long above 21190 for 21231 
– 21279 – 21407 , SL 21101

**Short below 21055 for 21014 – 20966 – 20838 , SL 21143

** These levels have been updated as there was a error previously

If you want to see the post in your Inbox , kindly register by adding your email id in  the 'Subscribe to my posts' section on the top right side of the blog. Also please give your valuable feedback by selecting the appropriate box at the bottom of the post.

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.