Monday, 17 September 2018

Bank Nifty Spot Outlook for 18th Sep

BANK NIFTY


In the previous session Bank Nifty spot opened at 27002.60 which was also the high , then made a low of 26743.40 before closing at 26820.30

Had mentioned that long trade for the day will get triggered on sustaining above 27255 and short trade for the day will get triggered on sustaining below 27075 . Bank Nifty triggered our short trade and did 250 points .

As mentioned " In this week Bank Nifty needs to break and sustain / close above 27400 to test 27645 - 27710 initially and above it we can see a test of 27920 - 28155 . Similarly Bank Nifty needs to break and sustain / close below 26930 to test 26685 - 26620 initially and below it we can see a test of 26410 - 26175. " , and today Bank Nifty triggered our weekly short trade and sustaining below 26930 we can see a test of 26685 - 26620 in the coming sessions . Those who are holding shorts should keep a cbsl of 27020.

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 Bank Nifty needs to sustain / close above 27100 - 27235 for a further move till 27310 - 27400 and sustaining below 26930 we can see a move till 26685 - 26620  . 

Now in the coming session Bank Nifty needs to break and sustain above 26915 to test 27010 - 27035 initially and sustaining above it we can see a further upmove till 27115 - 27205. Similarly breaking and sustaining below 26730 we can see a test of 26635 - 26610 initially and breaking and sustaining below it we can see a further correction till 26525 - 26435 .


Bank Nifty Spot Levels for the day are

Long above 26915 for 26965 - 27035 - 27205 , SL 26790

Short below 26730 for 26675 - 26610 - 26435 , SL 26850

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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.