Thursday, 13 September 2018

Bank Nifty Spot Outlook for 14th Sep

BANK NIFTY


In the previous session Bank Nifty spot opened at 26895.15 which was also the high, then made a low of 26555.15 before closing at 26819.20 .

Had mentioned that long trade for the day will get triggered on sustaining above 26870 and short trade for the day will get triggered on sustaining below 26745 . Bank Nifty opened above our long trigger but reversed immediately and triggered our short trade to complete all our short targets for the day giving 175 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 completed all our weekly short targets by tuesday giving 550 points and in the previous session did additional 200 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 26555.15 giving 1100 points from the monthly short trade till now. Also as mentioned in the previous session " 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 ." , and we saw Bank Nifty make a low of 26555.15 before bouncing back to close above 26775 and the same levels are valid for the coming sessions too.

Now in the coming session Bank Nifty needs to break and sustain above 26885 to test 26955 - 26970 initially and sustaining above it we can see a further upmove till 27030 - 27095. Similarly breaking and sustaining below 26755 we can see a test of 26685 - 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 26885 for 26925 - 26970 - 27095 , SL 26800

Short below 26755 for 26715 - 26665 - 26545 , SL 26840

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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.