Sunday, 9 September 2018

Bank Nifty Spot Outlook for 10th Sep

BANK NIFTY


In the previous session Bank Nifty spot opened at 27439.25, made a low of 27232.80, then made a high of 27512.50 before closing at 27481.45 .

Had mentioned that long trade for the day will get triggered on sustaining above 27550 and short trade for the day will get triggered on sustaining below 27385 . Bank Nifty triggered our short trade and did 100 points 

In this week Bank Nifty needs to break and sustain / close above 27620 to test 27770 - 27810 initially and above it we can see a test of 27935 - 28075 . Similarly Bank Nifty needs to break and sustain / close below 27340 to test 27195 - 27155 initially and below it we can see a test of 27030 - 26890. 

As mentioned " 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 . " , and Bank Nifty completed our initial targets of 27255 - 27150 after confirming our monthly short trade giving 550 points till now . Now Bank Nifty needs to sustain / close below 27150 for the next move till 26790 - 26395 and holding above 27255 we can see a move back till 27450 - 27620 . 

Now in the coming session Bank Nifty needs to break and sustain above 27535 to test 27590 - 27605 initially and sustaining above it we can see a further upmove till 27655 - 27705. Similarly breaking and sustaining below 27430 we can see a test of 27375 - 27360 initially and breaking and sustaining below it we can see a further correction till 27310 - 27255 .


Bank Nifty Spot Levels for the day are

Long above 27535 for 27565 - 27605 - 27705 , SL 27465

Short below 27430 for 27395 - 27360 - 27255 , SL 27500

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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.