Tuesday, 18 September 2018

Bank Nifty Spot Outlook for 19th Sep

BANK NIFTY


In the previous session Bank Nifty spot opened at 26757, made a high of 26901.25, then made a low of 26407.45 before closing at 26441.45

Had mentioned that long trade for the day will get triggered on sustaining above 26915 and short trade for the day will get triggered on sustaining below 26730 . Bank Nifty triggered our short trade and did 420 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 Bank Nifty had triggered our weekly short trade in the previous session and today made a low of 26407.45 testing our next short target zone of 26410 - 26175 and gave us 500 points . Those were holding shorts from the previous session should have booked their positions. 

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 completed our next targets of 26790 - 26395 with a low of 26407.45  giving 1250 points from the monthly short trade till . Those who were holding monthly shorts should have booked their short positions as all monthly short targets are done . Now Bank Nifty needs to sustain / close above 26685 - 26785 for a move till 26930 - 27140 and further correction can be expected on sustaining below 26395 we can see a move till 26180 - 25990  . 

Now in the coming session Bank Nifty needs to break and sustain above 26530 to test 26625 - 26650 initially and sustaining above it we can see a further upmove till 26735 - 26825. Similarly breaking and sustaining below 26350 we can see a test of 26255 - 26235 initially and breaking and sustaining below it we can see a further correction till 26150 - 26060 .


Bank Nifty Spot Levels for the day are

Long above 26530 for 26585 - 26650 - 26825 , SL 26415

Short below 26350 for 26295 - 26235 - 26060 , SL 26470

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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.