Friday, 13 July 2018

Bank Nifty Spot Outlook for 13th Jul

BANK NIFTY


In the previous session Bank Nifty spot opened at 26937.50, it made a low  of 26936.05 , then made a high of 27164.80,  before closing at 27026.55

Had mentioned that long trade for the day will get triggered on sustaining above 26865 and short trade for the day will get triggered on sustaining below 26765 . Bank Nifty today  triggered our long trade and did 200 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 and completed all our weekly long targets with a high of 27164.80 . 

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 confirmed our monthly longs in the previous session and today completed our initial target of 27080 - 27170 with a high of 27164.80 . Now in the coming sessions Bank Nifty has to close above 27170 for the further upmove till 27485 - 27835 else we might see a move back to 26925 - 26825 .

Now in the coming session Bank Nifty needs to break and sustain above 27080 to test 27135 - 27150 initially and sustaining above it we can see a further upmove till 27195 - 27250. Similarly breaking and sustaining below 26975 we can see a test of 26920 - 26905 initially and breaking and sustaining below it we can see a further correction till 26855 - 26805. 


Bank Nifty Spot Levels for the day are

Long above 27080 for 27115 - 27150 - 27250 , SL 27010

Short below 26975 for 26940 - 26905 -  26805 , SL 27045

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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.