Tuesday, 11 December 2018

Bank Nifty Spot Outlook for 12th Dec

BANK NIFTY


In the previous session Bank Nifty spot opened at 25602.25 , made a low of 25598.95,  made a high of 26227.90,  before closing at 26143.40

Had mentioned that long trade for the day will get triggered on sustaining above 26215 and short trade for the day will get triggered on sustaining below 25990 . Bank Nifty triggered our short trade with a big gap and did not give a chance to enter as per daily levels .Bank Nifty then triggered our long trade but did not do any targets.

Has mentioned " 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. Those who are still holding shorts should look to book on a further gap down as the next session will be highly volatile with the RBI governor resignation announcement coming post market hours and also we have the 5 state election results due tomorrow." , and Bank Nifty completed all our weekly short targets doing 1000+ points .

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. Bank Nifty triggered the monthly shorts and now it needs to give a consecutive close below 26380 in the coming session to confirm it and even on sustaining below 26005 we can see a test of 25870 - 25740 tomorrow where one should look to book shorts incase it comes in a gap down. " , and Bank Nifty confirmed our shorts and completed our initial targets of 25870 - 25740 with a low of 25598.25 and gave a good chance to book shorts too. Now in the coming sessions Bank Nifty sustaining below 26380 can retest 25870 - 25740 .Those who are looking to sell on rise should keep a strict cbsl of 26715.

Now in the coming session Bank Nifty needs to break and sustain above 26275 to test 26395 - 26425 initially and sustaining above it we can see a further upmove till 26525 - 26640. Similarly breaking and sustaining below 26050 we can see a test of 25935 - 25905 initially and sustaining below it we can see a further correction till 25800 - 25690. 


Bank Nifty Spot Levels for the day are

Long above 26275 for 26345 - 26425 - 26640 , SL 26195

Short below 26050 for 25980 - 25905 - 25690 , SL 26130

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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.