Bank Nifty Spot Outlook for 13th Apr

BANK NIFTY

Bank Nifty spot opened at 25076.90 , it made a low of 24969.40,  it made a high of 25244.80 before closing at 25195.10

Had mentioned that long positions can be taken above 25205 and short positions can be taken below 24990. Bank Nifty triggered our short trade but did not complete any target and took our stoploss . Bank then triggered our long trade and again did not complete any targets for the day . 

Had mentioned in the previous posts " Now this week Bank Nifty breaking and sustaining above 25135 can test 25530 - 25635 and on sustaining above it we can a further upmove till 25975 - 26350 next .Similarly in the coming session Bank Nifty breaking and sustaining below 24385 we can see a test of 23990 - 23890 initially and breaking and sustaining below it we can see a further correction till 23550 - 23175 next ." , and Bank Nifty has triggered its weekly long trade .

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 . Bank Nifty has confirmed our long trade and we can see a test of 25525 - 25690 . 

Now in the coming session Bank Nifty breaking and sustaining above 25295 can test 25400 - 25430 and on sustaining above it we can see a further upmove till 25520 - 25620 next. Similarly in the coming session Bank Nifty breaking and sustaining below 25095 we can see a test of 24990 - 24960 initially and breaking and sustaining below it we can see a further correction till 24870 - 24770 next . 

Bank Nifty Spot Levels for the day are

Long above 25295 for 25355 – 25430 – 25620 , SL 25165

Short below 25095 for 25035 – 24960 – 24770 , SL 25225

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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.