Monday, 2 July 2018

Bank Nifty Spot Outlook for 03rd Jul

BANK NIFTY


In the previous session Bank Nifty spot opened at 26364.45, it made a high  of 26371.60 , then made a low of 26060.60,  before closing at 26230.30 

Had mentioned that long trade for the day will get triggered on sustaining above 26430 and short trade for the day will get triggered on sustaining below 26300 . Bank Nifty triggered our short trade after opening and did around 205 points .

Had mentioned that " 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. ", and today Bank Nifty broke below 26195 but managed to close above it in the end.

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 26295 to test 26360 - 26375 initially and sustaining above it we can see a further upmove till 26435 - 26495. Similarly breaking and sustaining below 26165 we can see a test of 26100 - 26085 initially and breaking and sustaining below it we can see a further correction till 26030 - 25965. 


Bank Nifty Spot Levels for the day are

Long above 26295 for 26335 - 26375 - 26495 , SL 26210

Short below 26165 for 26130 - 26085 -  25965 , SL 26250

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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.