Bank Nifty Spot Outlook for 03rd Apr

BANK NIFTY

Bank Nifty spot opened at 24235.65 , it made a low of 24062.95 ,  it made a high of 24373.40 before closing at 24328.50

Had mentioned in the weekly post " Now in the coming week Bank Nifty breaking and sustaining above 24560 can test 24875 - 24955 and on sustaining above it we can a further upmove till 25225 - 25520 next .Similarly in the coming session Bank Nifty breaking and sustaining below 23965 we can see a test of 23655 - 23575 initially and breaking and sustaining below it we can see a further correction till 23305 - 23005 next "  , and Bank Nifty made a low of 24062.95 in the previous session and managed to hold above 23965 .

Now for the month of April , Bank Nifty longs will get confirmed with a consecutive close above 24880 for a initial target of 25525 - 25690 and sustaining / closing above it we can see a further test of 26250 - 26865 . Similarly , shorts will get confirmed with a consecutive close below 23650 for a initial target of 23000 - 22835 and sustaining / closing below it we can see a further test of 22275 - 21665 .

Now in the coming session Bank Nifty breaking and sustaining above 24435 can test 24550 - 24580 and on sustaining above it we can see a further upmove till 24680- 24785 next. Similarly in the coming session Bank Nifty breaking and sustaining below 24220 we can see a test of 24105 - 24075 initially and breaking and sustaining below it we can see a further correction till 23980 - 23870 next . 

Bank Nifty Spot Levels for the day are

Long above 24435 for 24505 – 24580 – 24785 , SL 24295

Short below 24220 for 24155 – 24075 – 23870 , SL 24360

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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.