Monday, 31 July 2017

Bank Nifty Spot Outlook for 01st Aug


Bank Nifty spot opened at 24880.60 , made a low of 24828.50 , it made a new life time high of 25168.10 ,  before closing at another record high of 25103.65 . Bank Nifty close above 25000 for the first time today .

Had mentioned in the previous post "  Now Bank Nifty needs to break and sustain above 24950 - 24985 zone to test 25070 - 25160 levels and being unable to do so we can see profit booking take it back till 24810 levels initially and below it till 24690 . Those who are holding longs should now further move up their cbsl for 24730 " , and today we saw Bank Nifty make a high of 25168.10 and complete our expected target of 25160 . Now Bank Nifty needs to break and sustain above 25150 in the coming session to test 25250 - 25300 levels. Those who are holding longs should now further trail their cbsl to 24865 . Those who are looking to go short on further upmove should keep a strict cbsl of 25340 spot . 

Bank Nifty Spot Levels for the day are

Long above 25150 for 25175 
– 25205 – 25290 , SL 25090

Short below 25060 for 25035 – 25005 – 25920 , SL 25120

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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.

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