Tuesday 11 September 2018

Bank Nifty Spot Outlook for 12th Sep

BANK NIFTY


In the previous session Bank Nifty spot opened at 27295.20, made a high of 27318.45, then made a low of 26772.25 before closing at 26807.50 .

Had mentioned that long trade for the day will get triggered on sustaining above 27260 and short trade for the day will get triggered on sustaining below 27145 . Bank Nifty opened above our 1st long target for the day but could not sustain and took our stoploss . It then triggered our short trade and did 350 points . 

As mentioned " 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. " , and Bank Nifty had triggered our weekly short trade in the previous session and today completed all our weekly short targets giving 550 points  .

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 had triggered our short trade below 27670 and today tested our next targets of 26790 - 26395 with a low of 26772.25 giving 900 points from the monthly short trade till now. Now Bank Nifty needs to sustain / close above 26715 -26775 for a bounce back to 27150 - 27250 and sustaining / closing below 26715 we can see a move till 26655 - 26550 . 

Now in the coming session Bank Nifty needs to break and sustain above 26870 to test 26935 - 26950 initially and sustaining above it we can see a further upmove till 27010 - 27070. Similarly breaking and sustaining below 26745 we can see a test of 26680 - 26665 initially and breaking and sustaining below it we can see a further correction till 26605 - 26545 .


Bank Nifty Spot Levels for the day are

Long above 26870 for 26910 - 26950 - 27070 , SL 26790

Short below 26745 for 26705 - 26665 - 26545 , SL 26825

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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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