Monday, 25 June 2018

Bank Nifty Spot Outlook for 26th Jun

BANK NIFTY


In the previous session Bank Nifty spot opened at 26718.15, it made a high of 26804.90 , then made a low of 26573 ,  before closing at 26609.70 .

Had mentioned that long trade for the day will get triggered on sustaining above 26830 and short trade for the day will get triggered on sustaining below 26705 . Bank Nifty initially triggered our short trade and did around 125 points .

In the coming week Bank Nifty needs to break and sustain / close above 26930 to test 27100 - 27140 initially and above it we can see a test of 27290 - 27450 . Similarly Nifty needs to break and sustain / close below 26605 to test 26435 - 26390 initially and below it we can see a test of 26245 - 26085. 

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 26675 to test 26740 - 26755 initially and sustaining above it we can see a further upmove till 26810 - 26875. Similarly breaking and sustaining below 26545 we can see a test of 26480 - 26465 initially and breaking and sustaining below it we can see a further correction till 26410 - 26345. 


Bank Nifty Spot Levels for the day are

Long above 26675 for 26710 - 26755 - 26875 , SL 26590

Short below 26545 for 26510 - 26465 -  26345 , SL 26630

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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.