Wednesday, 4 July 2018

Bank Nifty Spot Outlook for 04th Jul

BANK NIFTY


In the previous session Bank Nifty spot opened at 26210.10, it made a low  of 26142 , then made a high of 26316.10,  before closing at 26204.10 

Had mentioned that long trade for the day will get triggered on sustaining above 26295 and short trade for the day will get triggered on sustaining below 26165 . Bank Nifty today triggered both our short and long trade and took our stoploss . After today's indecisive movement day we should see a trending day in the coming session. 

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 again broke below 26195 but managed to close just above it in the end again.

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 26255 to test 26305 - 26315 initially and sustaining above it we can see a further upmove till 26360 - 26410. Similarly breaking and sustaining below 26155 we can see a test of 26105 - 26090 initially and breaking and sustaining below it we can see a further correction till 26050 - 26000. 


Bank Nifty Spot Levels for the day are

Long above 26255 for 26285 - 26315 - 26410 , SL 26190

Short below 26155 for 26125 - 26090 -  26000 , SL 26220

If you want to see the post in your Inbox , kindly register by adding your email id in  the 'Subscribe to my posts' section on the top right side of the blog. Also please give your valuable feedback by selecting the appropriate reactions box at the bottom of the post.

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.