Bank Nifty Spot Outlook for 04th Sep

BANK NIFTY

Bank Nifty spot opened at 24389.20 , made a low of 24319.20 and then made a high of 24494.35 ,  before closing at 24434 .

Had mentioned that long positions for the day can be taken above 24385 and short positions for the day can be taken below 24250 . Bank Nifty triggered our long trade towards the end of session but could not complete any target after trading the day between our long and short trigger levels 

Had mentioned in the previous post " Now in the coming session Bank Nifty breaking and sustaining below 24250 can test 24180 - 24165 and on sustaining below it we can see a further test of 24105 - 24035 next . Similarly in the coming session Bank Nifty breaking and sustaining above 24385 we can see a test of 24455 - 24475 initially and breaking and sustaining above it we can see a further move till 24535 - 24600 next . "  , and we saw Bank Nifty make high of 24494.35 but it could not sustain above 24385  . Now in the coming session Bank Nifty breaking and sustaining below 24370 can test 24305 - 24285 and on sustaining below it we can see a further test of 24230 - 24165 next. Similarly in the coming session Bank Nifty breaking and sustaining above 24500 we can see a test of 24565 - 24580 initially and breaking and sustaining above it we can see a further move till 24640 - 24705 next . 

Bank Nifty Spot Levels for the day are

Long above 24500 for 24535 – 24580 – 24705 , SL 24415

Short below 24370 for 24330 – 24285 – 24165 , SL 24455

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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.