Thursday, 14 June 2018

Bank Nifty Spot Outlook for 15th Jun

BANK NIFTY


In the previous session Bank Nifty spot opened at 26612.30,  made a high of 26623.25 , it made a low of 26503.10 ,  before closing at 26562.25

Had mentioned that long trade for the day will get triggered on sustaining above 26715 and short trade for the day will get triggered on sustaining below 26570 . Bank Nifty triggered the short trade and did around 70 points.

Had mentioned that " In the coming week Bank Nifty needs to break and sustain / close above 26755 to test 27080 - 27160 initially and above it we can see a test of 27440 - 27745 . Similarly Nifty needs to break and sustain / close below 26145 to test 25825 - 25740 initially and below it we can see a test of 25465 - 25160 .", and today Bank Nifty made a high of 26765 so far this week but could not sustain above 26755 to confirm the weekly long trade.

For the month of June ,Bank Nifty longs will get confirmed with a consecutive close above 27560 for a initial target of 28195 - 28360 and sustaining / closing above it we can see a further test of 28905 - 29510 . Similarly , shorts will get confirmed with a consecutive close below  26350 for a initial target of 25715 - 25555 and sustaining / closing below it we can see a further move till 25010 - 24405 . 

Now in the coming session Bank Nifty needs to break and sustain above 26625 to test 26695 - 26715 initially and sustaining above it we can see a further upmove till 26775 - 26840. Similarly breaking and sustaining below 26495 we can see a test of 26430 - 26410 initially and breaking and sustaining below it we can see a further correction till 26350 - 26285. 


Nifty Spot Levels for the day are

Long above 26625 for 26670 - 26715 - 26840 , SL 26540

Short below 26495 for 26455 - 26410 -  26285 , SL 26580

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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.