Tuesday, 25 September 2018

Bank Nifty Spot Outlook for 26th Sep

BANK NIFTY


In the previous session Bank Nifty spot opened at 24947.70, made a low of 24678.25, then made a high of 25406.95 before closing at 25330.35

Had mentioned that long trade for the day will get triggered on sustaining above 25080 and short trade for the day will get triggered on sustaining below 24860 . Bank Nifty initially triggered our short trade and did 180 points then took our TSL . Bank Nifty then triggered our long trade and did 320 points  . 

As mentioned " In this week Bank Nifty needs to break and sustain / close above 25875 to test 26165 - 26235 initially and above it we can see a test of 26490 - 26765 . Similarly Bank Nifty needs to break and sustain / close below 25320 to test 25030 - 24955 initially and below it we can see a test of 24705 - 24430. " , and Bank Nifty had triggered our weekly short trade in the previous session and completed our next targets with a low of 24678.25 . Now in the coming sessions Bank Nifty has resistance near 25510 and above it near 25605 - 25640 . 

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 completed all our short targets giving 1250+ points from the monthly short trade  . Bank Nifty has exceeded our short targets by a further 1450 points now with todays dip  . 

Now in the coming session Bank Nifty needs to break and sustain above 25465 to test 25605 - 25640 initially and sustaining above it we can see a further upmove till 25765 - 25895. Similarly breaking and sustaining below 25195 we can see a test of 25055 - 25020 initially and sustaining below it we can see a further correction till 24900 - 24765 .


Bank Nifty Spot Levels for the day are

Long above 25465 for 25545 - 25640 - 25895 , SL 25370

Short below 25195 for 25115 - 25020 - 24765 , SL 24940

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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.