Bank Nifty Spot Outlook for 10th Dec

BANK NIFTY

In the previous session Bank Nifty spot opened at 26307.40 , made a low of 26252.10,  made a high of 26659.70,  before closing at 26594.30

Had mentioned that long trade for the day will get triggered on sustaining above 26290 and short trade for the day will get triggered on sustaining below 26105 . Bank Nifty triggered our long trade and did 300+ points  . 

For this week Bank Nifty needs to break and sustain / close above 26845 to test 27115 - 27180 initially and above it we can see a test of 27410 - 27665 . Similarly Bank Nifty needs to break and sustain / close below 26340 to test 26075 - 26005 initially and below it we can see a test of 25775 - 25525. 

As mentioned " For the month of December , longs will get confirmed with a consecutive close above 27345 for a initial target of 27860 - 27990 and sustaining / closing above it we can see a further test of 28430 - 28915 . Similarly , shorts will get confirmed with a consecutive close below  26380 for a initial target of 25870 - 25740 and sustaining / closing below it we can see a further move till 25300 - 24815 ." , and Nifty has confirmed the monthly shorts and Bank Nifty can see a test of 25870 - 25740 sustaining below 26380 in the coming session.

Now in the coming session Bank Nifty needs to break and sustain above 26690 to test 26790 - 26815 initially and sustaining above it we can see a further upmove till 26905 - 27000. Similarly breaking and sustaining below 26500 we can see a test of 26400 - 26375 initially and sustaining below it we can see a further correction till 26285 - 26190. 

Bank Nifty Spot Levels for the day are

Long above 26690 for 26750 - 26815 - 27000 , SL 26625

Short below 26500 for 26440 - 26375 - 26190 , SL 26565

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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.