Thursday, 29 June 2017

Bank Nifty Spot Outlook for 30th Jun

BANK NIFTY


Bank Nifty spot opened at 23312.40 and made a high of 23476 , it made a low of 23124.35, before closing at 23227.30


Had mentioned that long positions can be taken above 23295 and short positions can be taken below 23177 .  Bank Nifty triggered our long trade and nearly completed all our daily long targets , missing the last one by 10 points and reversed sharply to trigger our short trade and completed 1 target on the short side .  


Had mentioned in the previous post "  Bank Nifty has its immediate support near 23285 - 23115 which can be tested once it breaks and sustains / closes below 23585 - 23425 zone in the coming sessions "  and today again we nearly tested the lower end of the support zone near 23115 and reversed . Now sustaining below 23115 we can see it retest 23055 - 22925 levels . Also as mentioned in the previous post " Holding levels of 23055 - 23115 we can see it test again 23425 - 23505 levels initially " and today we saw Nifty make a high of 23476 within the resistance zone and reversed for the day to retest the supports at 23285 - 23115 . Overall Bank Nifty is in a trading range of 22985 - 23585 currently . 

For today if Bank Nifty spot sustains above 23286 we can see a initial move till 23347 & on sustaining above 23363 we may see further move till 23474. Similarly if Bank Nifty spot sustains below 23169 we may see a initial move on the downside till 23108 &  on sustaining below 23092 we may see further move till 22981


Bank Nifty Spot Levels for the day are

Long above 23286 for 23321 
– 23363 – 23474 , SL 23209

Short below 23169 for 23133 – 23092 – 22981 , SL 23245

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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 Oulook for 30th Jun

NIFTY


Nifty spot opened at 9522.95 , made a high of 9575.80 and then made a low of 9493.80 before closing at 9504.10

Had mentioned that long positions for the day can be taken above 9505 and short positions for the day can be taken below 9477 . Nifty opened near our 2nd target for the day and exceeded our last daily target by 25 points and then we saw a good correction wiping out all the gains for day . 


A bigger correction can be expected only if Nifty breaks and sustains below 9335 - 9355 zone where there is a strong support for now .  As have been mentioning " Nifty has its immediate resistance near 9650 - 9670 zone and above that near 9750 - 9770 zone " .  Now Nifty needs to break and sustain above 9580 to test the resistance zone of  9650 - 9670 again initially .  Once Nifty breaks and sustains below 9560 we can expect a further correction towards the next support levels at 9500 - 9480 .  Now on sustaining further below 9480 we can expect a test of 9430 - 9415 next with small support at 9460 . Holding 9460 - 9480 zone we can see Nifty make move back till 9560 - 9580 levels again  . Overall Nifty is trading in a 100 point range between 9480 - 9580 as of now.


For today if Nifty spot sustains above 9518 we can see a initial move on the upside till 9533 & on sustaining above 9537 we may see further move till 9564 . Similarly if Nifty spot sustains below 9490 we may see a initial move on the downside till 9475 & on sustaining below 9471 we may see a further move till 9445


Nifty Spot Levels for the day are

Long above 9518 for 9527 - 9537 - 9564 , SL 9500

Short below 9490 for 9481 - 9471 - 9445 , SL 9508

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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, 28 June 2017

Bank Nifty Spot Outlook for 29th Jun

BANK NIFTY


Bank Nifty spot opened at 23209.55 and made a high of 23322.55 , it made a low of 23113.65  , before closing at 23235.85


Had mentioned that long positions can be taken above 23275 and short positions can be taken below 23157 .  Bank Nifty triggered our short trade and completed just one target. Bank Nifty also triggered our long trade and completed just 1 target . Bank Nifty traded in a narrow range today after achieving all our weekly short targets previously . 


Had mentioned in the previous post "  Bank Nifty has its immediate support near 23285 - 23115 which can be tested once it breaks and sustains / closes below 23585 - 23425 zone in the coming sessions "  and today we tested the lower end of the support zone near 23115 and reversed . Now sustaining below 23115 we can see it retest 23055 - 22925 levels . Holding levels of 23055 - 23115 we can see it test again 23425 - 23505 levels initially . 

For today if Bank Nifty spot sustains above 23295 we can see a initial move till 23358 & on sustaining above 23373 we may see further move till 23486. Similarly if Bank Nifty spot sustains below 23177 we may see a initial move on the downside till 23114 &  on sustaining below 23098 we may see further move till 22985


Bank Nifty Spot Levels for the day are

Long above 23295 for 23332 
– 23373 – 23486 , SL 23218

Short below 23177 for 23140 – 23098 – 22985 , SL 23254

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Nifty Spot Outlook for 29th Jun

NIFTY


Nifty spot opened at 9520.05 , made a high of 9522.50 and then made a low of 9474.35 before closing at 9491.25

Had mentioned that long positions for the day can be taken above 9526 and short positions for the day can be taken below 9499 . Nifty triggered our short trade at opening and completed 2 targets for the day . 


A bigger correction can be expected only if Nifty breaks and sustains below 9335 - 9355 zone where there is a strong support for now .  As have been mentioning " Nifty has its immediate resistance near 9650 - 9670 zone and above that near 9750 - 9770 zone " .  Now Nifty needs to break and sustain above 9560 to test the resistance zone of  9650 - 9670 again initially .  Had mentioned in the previous post "Once Nifty breaks and sustains below 9560 we can expect a further correction towards the next support levels at 9500 - 9480 " and we saw Nifty today again make a low of 9474.35 on sustaining below 9560. Now on sustaining further below 9480 we can expect a test of 9430 - 9415 next with small support at 9460 . Holding 9460 - 9480 zone we can see Nifty make move back till 9540 - 9560 levels again initially . 


For today if Nifty spot sustains above 9505 we can see a initial move on the upside till 9520 & on sustaining above 9524 we may see further move till 9551 . Similarly if Nifty spot sustains below 9477 we may see a initial move on the downside till 9462 & on sustaining below 9458 we may see a further move till 9431


Nifty Spot Levels for the day are

Long above 9505 for 9514 - 9524 - 9551 , SL 9487

Short below 9477 for 9468 - 9458 - 9431 , SL 9496

For June Expiry the expected range is :

Upper End - 9551

Lower End - 9432

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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, 27 June 2017

Bank Nifty Spot Outlook for 28th Jun

BANK NIFTY


Bank Nifty spot opened at 23636.95 and made a high of 23640.10 , it made a low of 23055.75  , before closing at 23216.25


Had mentioned that long positions can be taken above 23587 and short positions can be taken below 23499 .  Bank Nifty opened near our 2nd long target for the day and did not give us a proper entry. It then reversed and triggered our short trade and completed all our daily targets . Bank failed to break above our weekly long confirmation levels today witht he gap and had also triggered our weekly short trade and nearly completed all our weekly short targets missing our last target by just 10 points giving around 400+ points from the trade . 


Had mentioned in the previous post "  Bank Nifty has its immediate support near 23285 - 23115 which can be tested once it breaks and sustains / closes below 23585 - 23425 zone in the coming sessions "  and today we saw Bank Nifty make a low of 23055.75 . Now sustaining below 23270 we can see it retest 23055 - 22925 levels . Holding levels of 23055 - 22925 we can see it test again 23425 - 23505 levels initially . 

For today if Bank Nifty spot sustains above 23275 we can see a initial move till 23338 & on sustaining above 23354 we may see further move till 23467. Similarly if Bank Nifty spot sustains below 23157 we may see a initial move on the downside till 23095 &  on sustaining below 23075 we may see further move till 22965


Bank Nifty Spot Levels for the day are

Long above 23275 for 23312 
– 23354 – 23467 , SL 23198

Short below 23157 for 23121 – 23075 – 22965 , SL 23235

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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 28th Jun

NIFTY


Nifty spot opened at 9594.05 , made a high of 9615.40 and then made a low of 9473.45 before closing at 9511.40

Had mentioned that long positions for the day can be taken above 9588 and short positions for the day can be taken below 9560 . Nifty triggered our long trade at opening and completed 2 targets and then reversed to trigger our short trade for the day taking our TSL for the long trade and completed all our short targets for the day . Nifty had failed to sustain above our weekly long confirmation levels after triggering it and reversed to trigger our short trade for the week and completed 4 short targets too .


A bigger correction can be expected only if Nifty breaks and sustains below 9335 - 9355 zone where there is a strong support for now .  As have been mentioning " Nifty has its immediate resistance near 9650 - 9670 zone and above that near 9750 - 9770 zone " .  Now Nifty needs to break and sustain above 9560 to test the resistance zone of  9650 - 9670 again initially .  Had mentioned in the previous post "Once Nifty breaks and sustains below 9560 we can expect a further correction towards the next support levels at 9500 - 9480 " and we saw Nifty today make a low of 9473.45 on sustaining below 9560. Now on sustaining further below 9480 we can expect a test of 9430 - 9415 next with small support at 9460 . 


For today if Nifty spot sustains above 9588 we can see a initial move on the upside till 9601 & on sustaining above 9604 we may see further move till 9629 . Similarly if Nifty spot sustains below 9560 we may see a initial move on the downside till 9549 & on sustaining below 9545 we may see a further move till 9521


Nifty Spot Levels for the day are

Long above 9526 for 9535 - 9545 - 9573 , SL 9607

Short below 9499 for 9488 - 9478 - 9450 , SL 9516

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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.

Bank Nifty Spot Outlook for 27th Jun

BANK NIFTY


Bank Nifty spot opened at 23772.30 and made a high of 23786.50 , it made a low of 23507.50  , before closing at 23542.75


Had mentioned that long positions can be taken above 23783 and short positions can be taken below 23689 .  Bank Nifty triggered our long trade and immediately reversed without sustaining above it . It then triggered our short trade and completed all our targets for the day .


Had mentioned in the previous post " Bank Nifty has its next immediate resistance near 23760 - 23820 once it breaks and sustains / closes above 23480 - 23515 zone " and Bank Nifty made a high of 23897.85 on sustaining above this zone today but failed to close above it . Bank Nifty has its immediate support near 23285 - 23115 which can be tested once it breaks and sustains / closes below 23585 - 23425 zone in the coming sessions .  Holding 23425 we can see Bank Nifty again moving up to test our resistance zones . 

For today if Bank Nifty spot sustains above 23587 we can see a initial move till 23634 & on sustaining above 23646 we may see further move till 23730. Similarly if Bank Nifty spot sustains below 23499 we may see a initial move on the downside till 23452 &  on sustaining below 23440 we may see further move till 23355


Bank Nifty Spot Levels for the day are

Long above 23587 for 23614 
– 23646 – 23730 , SL 23529

Short below 23499 for 23471 – 23440 – 23355 , SL 23556

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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 27th Jun

NIFTY


Nifty spot opened at 9643.25 , made a high of 9647.65 and then made a low of 9565.30 before closing at 9574.95

Had mentioned that long positions for the day can be taken above 9643 and short positions for the day can be taken below 9617 . Nifty triggered our short trade and completed all our daily targets .   


A bigger correction can be expected only if Nifty breaks and sustains below 9335 - 9355 zone where there is a strong support for now .  As have been mentioning " Nifty has its immediate resistance near 9650 - 9670 zone and above that near 9750 - 9770 zone " Had mentioned in the previous posts   " Those who are looking to go long here can keep a strict cbsl of 9560 spot " , and we saw a move of 130+ points after making a low of 9560.80 last week and holding our cbsl .  Now again holding 9560 on closing Nifty can again make a attempt to retest the high made this month . Also as mentioned previously too " Now again sustaining above 9650 - 9670 levels in the coming sessions we can expect Nifty to move up towards a new high " . Once Nifty breaks and sustains below 9560 we can expect a further correction towards the next support levels at 9500 - 9480 


For today if Nifty spot sustains above 9588 we can see a initial move on the upside till 9601 & on sustaining above 9604 we may see further move till 9629 . Similarly if Nifty spot sustains below 9560 we may see a initial move on the downside till 9549 & on sustaining below 9545 we may see a further move till 9521


Nifty Spot Levels for the day are

Long above 9588 for 9595 - 9604 - 9629 , SL 9571

Short below 9560 for 9554 - 9545 - 9521 , SL 9579

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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.

Sunday, 25 June 2017

Weekly Spot Outlook of Bank Nifty for 27th to 30th Jun

BANK NIFTY

This week Bank Nifty spot went up 395 points over last weeks close and finally ended the week with a gain of 40 points compared to last weekly closing . 


As per levels given for the previous week Bank Nifty Spot needed to break and sustain above 23620 to confirm uptrend and Bank Nifty spot needed to break and sustain below 23385 to confirm downtrend for the week. Bank Nifty made a new lifetime high of 23897.85  and a low of 23507.50 


Bank Nifty triggered our weekly long trade and completed 5 targets for the week giving around 300+ points . Have been mentioning that " Bank Nifty has its immediate resistance near 23480 - 23515 zone and above that near 23760 - 23820 zone . Bank Nifty has its immediate support near 23315 - 23235 and below that near 22985 - 22880"  . Had mentioned in the previous weekly post " Those who are looking to go long now should keep a strict cbsl of 23235 . Holding 23235 we can see a test of the resistances at 23760 - 23820 on breaking and sustaining above 23480 - 23515 . Breaking and sustaining below 23235 we can see a test of the supports at 22985 - 22880 " , and we saw Bank Nifty make a new high at 23898 this week after making a low of 23312 last week .  Now this week we need to see if Bank Nifty can hold above 23515 - 23425 levels to once again move up to test 23760 - 23820 levels or will it break and sustain below 23515 - 23425 zone to test 23325 - 23235 levels initially . 


In the coming week Bank Nifty spot needs to break and sustain above 23660 to confirm uptrend and then one can expect a move till 23784 initially and breaking and sustaining above 23815 will give further confirmation of the next move which can take us till 24038. Similarly Bank Nifty spot needs to break and sustain below 23425 to confirm downtrend and then one can expect a move till 23302 initially and breaking and sustaining below 23270 will give further confirmation of the next move which can take us down till 23045.


Bank Nifty Spot Levels for the week are

Long above 23615 , Tgt 23660 - 23695 - 23732

IF Bank Nifty spot manages to get a close / sustain above 23784 then 

long again for 23815 - 23921 - 24038

Short below 23470 , Tgt 23425 - 23390 - 23353

IF Bank Nifty spot manages to get a close / sustain below 23302 then 

short again for 23270 - 23165 - 23045


P.S. Always wait for the yellow highlighted levels to be crossed after taking a long/short position for confirmation of the trade . Once the highlighted levels are crossed and the next target is achieved move your Stoploss to the highlighted levels .

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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.

Weekly Spot Oulook of Nifty for 27th to 30th Jun

NIFTY

This week Nifty spot went up 111 points over last weeks close and went down by 23 points and finally ended the week with a loss of 13 points compared to last weekly closing.


As per levels given for the previous week Nifty Spot needed to break and sustain above 9615 to confirm uptrend and Nifty spot needed to break and sustain below 9561 to confirm downtrend for the week. Nifty made a high of 9698.85 and a low of 9565.30 for the week .


This week Nifty triggered our long trade and missed our last long target by 5 points after completing 5 targets . It then reversed to come close to our short confirmation levels and closed near it . Nifty gave us nearly 70+ points from the weekly long trade . Have been mentioning in the previous weekly posts that " As long as Nifty does not give a strong close above 9743 we can expect selling pressure to keep pulling it down " . In the previous week had mentioned that " As have mentioned in the previous daily post Nifty has a good support near 9560 and holding the same we can expect a retest of 9650 - 9670 zone again initially .Breaking and sustaining below 9560 can see a test of 9500 - 9480 zone " , and we saw Nifty testing nearly 9700 after holding 9560 last week . Now we need to see whether it can hold it again this week to retest the highs of last week or will it break and sustain below 9560 to test 9500 - 9480 zone initially .


In the coming week Nifty spot needs to break and sustain above 9609 to confirm uptrend and then one can expect a move till 9644 initially and breaking and sustaining above 9653 will give further confirmation for the next move which can take us up till 9717. Similarly Nifty spot needs to break and sustain below 9541 to confirm downtrend and then one can expect a move till 9506 initially and breaking and sustaining below 9497 will give further confirmation for the next move which can take us down till 9433 . 


Nifty Spot Levels for the week are

Long above 9596 , Tgt  9609 - 9619 - 9629

IF Nifty spot manages to get a close / sustain above 9644 then ,

long again for 9653 - 9684 - 9717

Short below 9554 , Tgt 9541 - 9531 - 9521

IF Nifty spot manages to get a close / sustain below 9506 then, 

short again for 9497 - 9466 - 9433


P.S. Always wait for the yellow highlighted levels to be crossed after taking a long/short position for confirmation of the trade . Once the highlighted levels are crossed and the next target is achieved move your Stoploss to the highlighted levels .

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.

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.

Thursday, 22 June 2017

Bank Nifty Spot Outlook for 23rd Jun

BANK NIFTY


Bank Nifty spot opened at 23716.85 and made a high of 23897.85 , it made a low of 23694.15  , before closing at 23736.10


Had mentioned that long positions can be taken above 23759 and short positions can be taken below 23659 .  Bank Nifty triggered our long trade for the day and missed our last target by 22 points . Bank Nifty had triggered our weekly long trade in the previous sessions and today completed our 5th weekly long target at 23883 giving nearly 300+ points from the weekly long trade . 


Had mentioned in the previous post " Bank Nifty has its next immediate resistance near 23760 - 23820 once it breaks and sustains / closes above 23480 - 23515 zone " and Bank Nifty made a high of 23897.85 on sustaining above this zone today but failed to close above it . Bank Nifty has its immediate support near 23285 - 23115 which can be tested once it breaks and sustains / closes below 23585 - 23425 zone in the coming sessions .  Had mentioned previously "Those who are holding longs can look to book once near 23930 - 24030 on sustaining above 23820 " , and today Bank Nifty made a high at 23897.85 near the expected zone . Also had mentioned in the previous post " Those who are looking to go short should keep a strict cbsl of 23930 , as a consecutive close above it can take Nifty towards 24230 - 24450 levels " , and Bank Nifty gave a good entry for swing traders to take a short trade today near 23900 with a cbsl of 23930 .

For today if Bank Nifty spot sustains above 23783 we can see a initial move till 23832 & on sustaining above 23845 we may see further move till 23934. Similarly if Bank Nifty spot sustains below 23689 we may see a initial move on the downside till 23640 &  on sustaining below 23628 we may see further move till 23538


Bank Nifty Spot Levels for the day are

Long above 23783 for 23812 
– 23845 – 23934 , SL 23722

Short below 23689 for 23661 – 23628 – 23538 , SL 23751

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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.