Thursday, 13 December 2018

Bank Nifty Spot Outlook for 14th Dec

BANK NIFTY


In the previous session Bank Nifty spot opened at 26844.15 , made a high of 26951.45,  made a low of 26723.65,  before closing at 26816.35

Had mentioned that long trade for the day will get triggered on sustaining above 26760 and short trade for the day will get triggered on sustaining below 26530 . Bank Nifty triggered our long trade and did nearly 175+ points.

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. " , and Bank Nifty completed all our weekly short targets doing 1000+ points . Post that Bank Nifty has bounced back nearly 1000+ points too . Now in the coming session Bank Nifty needs to sustain above 26845 - 26935 zone to move towards 27115 - 27180 .

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. Bank Nifty has bounced after being unable to sustain below 26380 and we can expect a further upmove on sustaining 26850 - 26935 in the coming session. 

Now in the coming session Bank Nifty needs to break and sustain above 26935 to test 27060 - 27090 initially and sustaining above it we can see a further upmove till 26195 - 27315. Similarly breaking and sustaining below 26700 we can see a test of 26575 - 26545 initially and sustaining below it we can see a further correction till 26435 - 26320. 


Bank Nifty Spot Levels for the day are

Long above 26935 for 27005 - 27090 - 27315 , SL 26850

Short below 26700 for 26625 - 26545 - 26320 , SL 26780

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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.

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