Tuesday, 10 July 2018

Bank Nifty Spot Outlook for 11th Jul

BANK NIFTY


In the previous session Bank Nifty spot opened at 26844.55, it made a low  of 26778.50 , then made a high of 26939.55,  before closing at 26894.55

Had mentioned that long trade for the day will get triggered on sustaining above 26810 and short trade for the day will get triggered on sustaining below 26700 . Bank Nifty today  triggered our long trade and did 120 points .

Had mentioned in the previous post that "In the coming week Bank Nifty needs to break and sustain / close above 26610 to test 26735 - 26765 initially and above it we can see a test of 26870 - 26985 . Similarly Nifty needs to break and sustain / close below 26375 to test 26255 - 26225 initially and below it we can see a test of 26120 - 26000.", and Bank Nifty had triggered our weekly long trade above 26610 in the previous session and today sustaining above 26765 it nearly completed all our weekly targets with a high of 26939.55 . 

As mentioned earlier " 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 ." , and Bank Nifty had given a  first close above 26715 in the previous session and we got a consecutive close today . Now holding and sustaining above 26715 in the coming sessions we can see a test of 27080 - 27170 initially. 

Now in the coming session Bank Nifty needs to break and sustain above 26945 to test 26995 - 27010 initially and sustaining above it we can see a further upmove till 27055 - 27105. Similarly breaking and sustaining below 26845 we can see a test of 26790 - 26775 initially and breaking and sustaining below it we can see a further correction till 26735 - 26685. 


Bank Nifty Spot Levels for the day are

Long above 26945 for 26975 - 27010 - 27105 , SL 26880

Short below 26845 for 26815 - 26775 -  26685 , SL 26910

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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.