Sunday, 22 April 2018

Bank Nifty Spot Outlook for 23rd Apr

BANK NIFTY


Bank Nifty spot opened at 25126.80 which was also the high   it made a low of 24839.30 before closing at 24943.85

Had mentioned that long positions can be taken above 25180 and short positions can be taken below 25075. Bank Nifty triggered our short trade and completed all our targets and exceeded it by nearly 80 points . 

Now this week Bank Nifty breaking and sustaining above 25075 can test 25210 - 25245 and on sustaining above it we can a further upmove till 25360 - 25490 next .Similarly in the coming session Bank Nifty breaking and sustaining below 24815 we can see a test of 24680 - 24645 initially and breaking and sustaining below it we can see a further correction till 24530 - 24400 next . 

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 24995 can test 25045 - 25055 and on sustaining above it we can see a further upmove till 25100 - 25150 next. Similarly in the coming session Bank Nifty breaking and sustaining below 24895 we can see a test of 24845 - 24830 initially and breaking and sustaining below it we can see a further correction till 24785 - 24740 next . 


Bank Nifty Spot Levels for the day are

Long above 24995 for 25025 
– 25055 – 25150 , SL 24925

Short below 24895 for 24865 – 24830 – 24740 , SL 24960

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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.