Friday, 20 April 2018

Bank Nifty Spot Outlook for 20th Apr

BANK NIFTY


Bank Nifty spot opened at 25206.45 and made a high of 25207.30  it made a low of 25049.70 before closing at 25126.15

Had mentioned that long positions can be taken above 25155 and short positions can be taken below 25050. Bank Nifty triggered our long trade by opening above our 1st target and then traded between our long and short trigger for the day . 

Now this week Bank Nifty breaking and sustaining above 25470 can test 25750 - 25825 and on sustaining above it we can a further upmove till 26070 - 26335 next .Similarly in the coming session Bank Nifty breaking and sustaining below 24930 we can see a test of 24650 - 24580 initially and breaking and sustaining below it we can see a further correction till 24335 - 24065 next . So far Bank Nifty has been trading in a narrow range of 24930 - 25470 and it needs to break and sustain beyond this range on either side for a bigger move in the coming sessions. Bank Nifty is due for a bigger move in the coming sessions

Had mentioned previously " 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 initially . 

Now in the coming session Bank Nifty breaking and sustaining above 25180 can test 25230 - 25245 and on sustaining above it we can see a further upmove till 25290 - 25340 next. Similarly in the coming session Bank Nifty breaking and sustaining below 25075 we can see a test of 25020 - 25005 initially and breaking and sustaining below it we can see a further correction till 24965 - 24915 next . 


Bank Nifty Spot Levels for the day are

Long above 25180 for 25205 
– 25245 – 25340 , SL 25110

Short below 25075 for 25045 – 25005 – 24915 , SL 25145

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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.