Bank Nifty Spot Outlook for 21st Aug

BANK NIFTY

Bank Nifty spot opened at 24125.30 , made a high of 24130.15 , it made a low of 23925.95 , before closing at 24074.45 .

Had mentioned that long positions for the day can be taken above 24315 and short positions for the day can be taken below 24160 . Bank Nifty triggered our short trade for the day and completed 2 targets , it missed our last target by 26 points . 

Had mentioned in the previous post " Now in the coming session Bank Nifty breaking and sustaining below 24160 can test 24075 - 24050 and on sustaining below it we can see a further test of 23980 - 23900 next . Similarly in the coming session Bank Nifty breaking and sustaining above 24315 we can see a test of 24400 - 24425 initially and breaking and sustaining above it we can see a further move till 24495 - 24575 next . "  , and we saw Bank Nifty make a low of 23925.95 on sustaining below 24160 .   Now in the coming session Bank Nifty breaking and sustaining below 24000 can test 23920 - 23900 and on sustaining below it we can see a further test of 23835 - 23755 next. Similarly in the coming session Bank Nifty breaking and sustaining above 24150 we can see a test of 24230 - 24250 initially and breaking and sustaining above it we can see a further move till 24315 - 24395 next .

Bank Nifty Spot Levels for the day are

Long above 24150 for 24195 – 24250 – 24395 , SL 24050

Short below 24000 for 23955 – 23900 – 23755 , SL 24100

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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.