Monday, 2 July 2018

Bank Nifty Spot Outlook for 02nd Jul

BANK NIFTY


In the previous session Bank Nifty spot opened at 26312.70, it made a low  of 26291.35 , then made a high of 26465,  before closing at 26364.20 

Had mentioned that long trade for the day will get triggered on sustaining above 26390 and short trade for the day will get triggered on sustaining below 26260 . Bank Nifty triggered our long trade after opening and did around 70 points .

In the coming week Bank Nifty needs to break and sustain / close above 26535 to test 26710 - 26755 initially and above it we can see a test of 26905 - 27075 . Similarly Nifty needs to break and sustain / close below 26195 to test 26020 - 25975 initially and below it we can see a test of 25820 - 25655. 

For the month of July ,Bank Nifty longs will get confirmed with a consecutive close above 26715 for a initial target of 27080 - 27170 and sustaining / closing above it we can see a further test of 27485 - 27835 . Similarly , shorts will get confirmed with a consecutive close below  26015 for a initial target of 25650 - 25555 and sustaining / closing below it we can see a further move till 25240 - 24895 . 

Now in the coming session Bank Nifty needs to break and sustain above 26430 to test 26495 - 26510 initially and sustaining above it we can see a further upmove till 26570 - 26630. Similarly breaking and sustaining below 26300 we can see a test of 26235 - 26215 initially and breaking and sustaining below it we can see a further correction till 26160 - 26095. 


Bank Nifty Spot Levels for the day are

Long above 26430 for 26465 - 26510 - 26630 , SL 26345

Short below 26300 for 26260 - 26215 -  26095 , SL 26385

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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.