Sunday, 30 September 2018

Bank Nifty Spot Outlook for 01st Oct

BANK NIFTY


In the previous session Bank Nifty spot opened at 25135.80, made a high of 25354.70, then made a low of 24919.25,  before closing at 25119.85

Had mentioned that long trade for the day will get triggered on sustaining above 25175 and short trade for the day will get triggered on sustaining below 24910 . Bank Nifty triggered our long trade and completed 2 targets and then took our TSL.

Now in this week Bank Nifty needs to break and sustain / close above 25440 to test 25775 - 25860 initially and above it we can see a test of 26150 - 26470 . Similarly Bank Nifty needs to break and sustain / close below 24800 to test 24465 - 24375 initially and below it we can see a test of 24090 - 23770. 

For the month of October ,Bank Nifty longs will get confirmed with a consecutive close above 25780 for a initial target of 26480 - 26655 and sustaining / closing above it we can see a further test of 27255 - 27915 . Similarly , shorts will get confirmed with a consecutive close below  24460 for a initial target of 23765 - 23585 and sustaining / closing below it we can see a further move till 22985 - 22325 . 

Now in the coming session Bank Nifty needs to break and sustain above 25240 to test 25370 - 25400 initially and sustaining above it we can see a further upmove till 25510 - 25630. Similarly breaking and sustaining below 25000 we can see a test of 24870 - 24840 initially and sustaining below it we can see a further correction till 24730 - 24610 .


Bank Nifty Spot Levels for the day are

Long above 25240 for 25315 - 25400 - 25630 , SL 25155

Short below 25000 for 24925 - 24840 - 24610 , SL 25085

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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.