Sunday 2 September 2018

Bank Nifty Spot Outlook for 03rd Sep

BANK NIFTY


In the previous session Bank Nifty spot opened at 27998, made a low of 27940.95, then made a high of 28157.35 before closing at 28061.75 .

Had mentioned that long trade for the day will get triggered on sustaining above 28185 and short trade for the day will get triggered on sustaining below 28025 . Bank Nifty triggered our short trade and did 60 points.

In this week Bank Nifty needs to break and sustain / close above 28250 to test 28455 - 28505 initially and above it we can see a test of 28675 - 28865 . Similarly Bank Nifty needs to break and sustain / close below 27870 to test 27670 - 27620 initially and below it we can see a test of 27450 - 27260.

For the month of September ,Bank Nifty longs will get confirmed with a consecutive close above 28455 for a initial target of 28870 - 28975 and sustaining / closing above it we can see a further test of 29335 - 29725 . Similarly , shorts will get confirmed with a consecutive close below  27670 for a initial target of 27255 - 27150 and sustaining / closing below it we can see a further move till 26790 - 26395 . 

Now in the coming session Bank Nifty needs to break and sustain above 28135 to test 28210 - 28230 initially and sustaining above it we can see a further upmove till 28295 - 28365. Similarly breaking and sustaining below 27990 we can see a test of 27915 - 27895 initially and breaking and sustaining below it we can see a further correction till 27830 - 27760 .


Bank Nifty Spot Levels for the day are

Long above 28135 for 28180 - 28230 - 28365 , SL 28040

Short below 27990 for 27945 - 27895 -  27760 , SL 28085

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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.

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