Monday, 24 June 2019

Bank Nifty Spot Outlook for 25th Jun

BANK NIFTY


In the previous session Bank Nifty spot opened at 30680.95, made a high of 30783.65, it made a low of 30528.00 ,  before closing at 30602.05

Had mentioned that long trade will get triggered for the day on sustaining above 30725 and short trade will get triggered for the day on sustaining below 30530. Bank Nifty triggered our long trade and completed just 1 target in contrast to Nifty which triggered the short trade and did just 1 target.


For the coming week :

Those who are looking to enter fresh longs should wait for Bank Nifty to sustain / close above 30885 and then enter for a initial target of 31155 - 31225 and look to hold further only on sustaining or getting a close above 31225 for the next targets of 31455 - 31710. 

&

Those who are looking to enter fresh short should wait for Bank Nifty to sustain / close below 30375 and then enter for a initial target of 30105 - 30035 and look to hold further only on sustaining or getting a close below 30035 for the next targets of 29805 - 29550.




For the month of June , longs will be confirmed in Bank Nifty with a consecutive close above 32160 for a initial target of 32995 - 33205 and sustaining / closing above it we can see a further move till 33920 - 34710 . Similarly Bank Nifty shorts will be confirmed with a consecutive close below 30590 for a initial target of 29755 - 29545 and sustaining / closing below it we can see a further move till 28830 - 28045.


Had mentioned in the previous post "Now on the downside Bank Nifty has immediate strong support near 30590 - 30490 which it needs to hold this week for a bounce else we might see the correction extend further 29755 - 29545." , and Bank Nifty confirmed our monthly shorts but has bounced back . Now we can see the upmove extend further on the back of short covering if Bank Nifty sustains/closes strongly above 30885 in the coming sessions. Bank Nifty is appearing to show more strength than Nifty and is showing a bit of divergence to Nifty indicating it might not put pressure on Nifty to fall sharply  .

Now in the coming session Bank Nifty needs to break and sustain above 30690 to test 30785 - 30810 initially and sustaining above it we can see a further upmove till 30890 - 30980. Similarly breaking and sustaining below 30510 we can see a test of 30420 - 30395 initially and sustaining below it we can see a further correction till 30315 - 30225



Bank Nifty Spot Levels for the day are

Long above 30690 for 30745 - 30810 - 30980 , SL 30630

Short below 30510 for 30455 - 30395 - 30225 , SL 30575


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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.

Nifty Spot Outlook for 25th Jun

NIFTY


In the previous session Nifty spot opened at 11725.80, made a high of 11754.00 ,  made a low of 11670.20,  before closing at 11699.65


Had mentioned that long trade will get triggered for the day on sustaining above 11755 and short trade will get triggered for the day on sustaining below 11690. Nifty triggered our short trade and did just 1 target. 

For the coming week :

Those who are looking to enter fresh longs should wait for Nifty to sustain / close above 11810 and then enter for a initial target of 11900 - 11920 and look to hold further only on sustaining or getting a close above 11920 for the next targets of 12000 - 12080. 

&

Those who are looking to enter fresh short should wait for Nifty to sustain / close below 11640 and then enter for a initial target of 11550 - 11525 and look to hold further only on sustaining or getting a close below 11525 for the next targets of 11450 - 11370. 



After mostly trading sideways this month in the range of 11775 - 11965 Nifty had broken the range on the lower side and did 150 points . Now Nifty needs to sustain/close below 11640 else we might see it resume trade between 11775 - 11965 range again .

For the month of June , longs will get confirmed in Nifty with a consecutive close above 12115 for a initial target of 12320 - 12370 and sustaining / closing above it we can see a further move till 12545 - 12735 .  Similarly shorts will get confirmed with a consecutive close below 11730 for  a initial target of 11525 - 11475 and sustaining / closing below it we can see a further move till 11300 - 11110 . 


Now Nifty needs to sustain/close below 11640 for the correction to extend further towards the down targets mentioned of 11525 - 11425 and holding the same we can see it bounce back towards 11775 - 11810 . Nifty needs to sustain/close above 11810 to put pressure on shorts to cover positions. 


Now in the coming session Nifty needs to break and sustain above 11730 to test 11760 - 11770 initially and sustaining above it we can see a further upmove till 11800 - 11830. Similarly breaking and sustaining below 11670 we can see a test of 11640 - 11630 initially and breaking and sustaining below it we can see a further correction till 11600 - 11570


Nifty Spot Levels for the day are

Long above 11730 for 11750 - 11770 - 11830 , SL 11710

Short below 11670 for 11650 - 11630 - 11570 , SL 11690


If you want to see the post in your Inbox , kindly register by adding your email id in  the 'Subscribe to my posts' section on the top right side of the blog. Also please give your valuable feedback by selecting the appropriate reactions box at the bottom of the post.

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.

Sunday, 23 June 2019

Bank Nifty Spot Outlook for 24th Jun

BANK NIFTY


In the previous session Bank Nifty spot opened at 30804.95, made a high of 30804.95, it made a low of 30541.50 ,  before closing at 30628.35

Had mentioned that long trade will get triggered for the day on sustaining above 30880 and short trade will get triggered for the day on sustaining below 30685. Bank Nifty triggered our short trade and completed 2 targets doing 130+ points . 


For the coming week :

Those who are looking to enter fresh longs should wait for Bank Nifty to sustain / close above 30885 and then enter for a initial target of 31155 - 31225 and look to hold further only on sustaining or getting a close above 31225 for the next targets of 31455 - 31710. 

&

Those who are looking to enter fresh short should wait for Bank Nifty to sustain / close below 30375 and then enter for a initial target of 30105 - 30035 and look to hold further only on sustaining or getting a close below 30035 for the next targets of 29805 - 29550.




For the month of June , longs will be confirmed in Bank Nifty with a consecutive close above 32160 for a initial target of 32995 - 33205 and sustaining / closing above it we can see a further move till 33920 - 34710 . Similarly Bank Nifty shorts will be confirmed with a consecutive close below 30590 for a initial target of 29755 - 29545 and sustaining / closing below it we can see a further move till 28830 - 28045.


Had mentioned in the previous post "Now on the downside Bank Nifty has immediate strong support near 30590 - 30490 which it needs to hold this week for a bounce else we might see the correction extend further 29755 - 29545." , and Bank Nifty confirmed our monthly shorts but has bounced back . Now we can see the upmove extend further on the back of short covering if Bank Nifty sustains/closes strongly above 30885 in the coming sessions. 


Now in the coming session Bank Nifty needs to break and sustain above 30725 to test 30825 - 30855 initially and sustaining above it we can see a further upmove till 30940 - 31040. Similarly breaking and sustaining below 30530 we can see a test of 30430 - 30405 initially and sustaining below it we can see a further correction till 30315 - 30220



Bank Nifty Spot Levels for the day are

Long above 30725 for 30785 - 30855 - 31040 , SL 30660

Short below 30530 for 30470 - 30405 - 30220 , SL 30600


If you want to see the post in your Inbox , kindly register by adding your email id in  the 'Subscribe to my posts' section on the top right side of the blog. Also please give your valuable feedback by selecting the appropriate reactions box at the bottom of the post.

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.

Nifty Spot Outlook for 24th Jun

NIFTY


In the previous session Nifty spot opened at 11827.60, made a high of 11827.95 ,  made a low of 11705.10,  before closing at 11724.10


Had mentioned that long trade will get triggered for the day on sustaining above 11865 and short trade will get triggered for the day on sustaining below 11800. Nifty triggered our short trade and completed all targets doing 90+ points . 

For the coming week :

Those who are looking to enter fresh longs should wait for Nifty to sustain / close above 11810 and then enter for a initial target of 11900 - 11920 and look to hold further only on sustaining or getting a close above 11920 for the next targets of 12000 - 12080. 

&

Those who are looking to enter fresh short should wait for Nifty to sustain / close below 11640 and then enter for a initial target of 11550 - 11525 and look to hold further only on sustaining or getting a close below 11525 for the next targets of 11450 - 11370. 



After mostly trading sideways this month in the range of 11775 - 11965 Nifty had broken the range on the lower side and did 150 points . Now Nifty needs to sustain/close below 11640 else we might see it resume trade between 11775 - 11965 range again .

For the month of June , longs will get confirmed in Nifty with a consecutive close above 12115 for a initial target of 12320 - 12370 and sustaining / closing above it we can see a further move till 12545 - 12735 .  Similarly shorts will get confirmed with a consecutive close below 11730 for  a initial target of 11525 - 11475 and sustaining / closing below it we can see a further move till 11300 - 11110 . 


As mentioned in the previous post " Now on the downside Nifty has immediate support near 11775 - 11730 and it needs to hold these levels this week for a bounce else we can see the correction extend further towards 11525 - 11425." , now Nifty needs to sustain/ close below 11640 for the correction to extend further towards the down targets mentioned . Similarly Nifty needs to sustain/close above 11810 to put pressure on shorts to cover positions. 


Now in the coming session Nifty needs to break and sustain above 11755 to test 11790 - 11800 initially and sustaining above it we can see a further upmove till 11830 - 11860. Similarly breaking and sustaining below 11690 we can see a test of 11660 - 11650 initially and breaking and sustaining below it we can see a further correction till 11620 - 11590


Nifty Spot Levels for the day are

Long above 11755 for 11775 - 11800 - 11860 , SL 11735

Short below 11690 for 11670 - 11650 - 11590 , SL 11715


If you want to see the post in your Inbox , kindly register by adding your email id in  the 'Subscribe to my posts' section on the top right side of the blog. Also please give your valuable feedback by selecting the appropriate reactions box at the bottom of the post.

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.

Saturday, 22 June 2019

Weekly Spot Outlook of Bank Nifty for 24th to 28th Jun

BANK NIFTY

This week Bank Nifty spot went down by 393 points , it then went up by 210 points before finally ending the week with a gain of 14 points compared to last weekly closing.

As per levels given for the previous week Bank Nifty Spot needed to sustain and close above 31405 to confirm uptrend and Bank Nifty spot needed to sustain and close below 30725 to confirm downtrend for the week. Bank Nifty made a high of 31399.35 and made a low of 30508.95 for the week. 


Had mentioned in previous weekly post that Bank Nifty needs to sustain above 30925 to test 31250 - 31335 initially and above it further till 31615 - 31925 and Bank Nifty needs to sustain below 30305 to test 29980 - 29895 initially and below it further till 29615 - 29305 , and Bank Nifty triggered our short trade but completed just 1 target showing strength . 


For the coming week :

Those who are looking to enter fresh longs should wait for Bank Nifty to sustain / close above 30885 and then enter for a initial target of 31155 - 31225 and look to hold further only on sustaining or getting a close above 31225 for the next targets of 31455 - 31710. 

&

Those who are looking to enter fresh short should wait for Bank Nifty to sustain / close below 30375 and then enter for a initial target of 30105 - 30035 and look to hold further only on sustaining or getting a close below 30035 for the next targets of 29805 - 29550.


For the month of June , longs will be confirmed in Bank Nifty with a consecutive close above 32160 for a initial target of 32995 - 33205 and sustaining / closing above it we can see a further move till 33920 - 34710 . Similarly Bank Nifty shorts will be confirmed with a consecutive close below 30590 for a initial target of 29755 - 29545 and sustaining / closing below it we can see a further move till 28830 - 28045.




Now on the downside Bank Nifty has immediate strong support near 30475 - 30375 which it needs to hold this week for a bounce else we might see the correction extend further towards 29755 - 29545.  


Bank Nifty Spot Levels for the week are

Long above 30785 , Tgt 30885 - 30965 - 31040

IF Bank Nifty spot manages to get a close / sustain above 31155 then 

long again for 31225 - 31455 - 31710

Short below 30470 , Tgt 30375 - 30295 - 30215

IF Bank Nifty spot manages to get a close / sustain below 30105 then 

short again for 30035 - 29805 - 29550



P.S. Always wait for the yellow highlighted levels to be crossed after taking a long/short position for confirmation of the trade . Once the highlighted levels are crossed and the next target is achieved move your Stoploss to the highlighted levels and continue trailing it further .

If you want to see the post in your Inbox , kindly register by adding your email id in  the 'Subscribe to my posts' section on the top right side of the blog.

Weekly Spot Outlook of Nifty for 24th to 28th Jun

NIFTY

This week Nifty went up by 21 points , it then went down by 198 points , before finally ending the week with a loss of 99 points compared to last weekly closing. 

As per levels given for the previous week Nifty Spot needed to sustain and close above 11920 to confirm uptrend and Nifty spot needed to sustain and close below 11730 to confirm downtrend for the week. Nifty made a high of 11844.05 and made a low of 11625.10

Had mentioned in previous weekly post that Nifty needs to sustain above 11920 to test 12015 - 12040 initially and closing above it can go further till 12125 - 12220 and Nifty needs to sustain below 11730 to test 11630 - 11605 initially and closing below it can go further till 11520 - 11425, and we saw Nifty triggering our weekly shorts and make a low of 11625.10 completing our initial targets and giving 100+ points . Nifty now needs to hold 11670 - 11640 on closing basis this week to avoid a further correction towards 11550 - 11525 and for a bounce again to be expected towards 12000 levels .

For the coming week :

Those who are looking to enter fresh longs should wait for Nifty to sustain / close above 11810 and then enter for a initial target of 11900 - 11920 and look to hold further only on sustaining or getting a close above 11920 for the next targets of 12000 - 12080. 

&

Those who are looking to enter fresh short should wait for Nifty to sustain / close below 11640 and then enter for a initial target of 11550 - 11525 and look to hold further only on sustaining or getting a close below 11525 for the next targets of 11450 - 11370. 


For the month of June , longs will get confirmed in Nifty with a consecutive close above 12115 for a initial target of 12320 - 12370 and sustaining / closing above it we can see a further move till 12545 - 12735 .  Similarly shorts will get confirmed with a consecutive close below 11730 for  a initial target of 11525 - 11475 and sustaining / closing below it we can see a further move till 11300 - 11110 . 



Now on the downside Nifty has immediate support near 11670 - 11640 and it needs to hold this levels on closing basis in the coming week for a bounce else we can see the correction extend further towards 11550 - 11525.


Nifty Spot Levels for the week are

Long above 11775 , Tgt  11810 - 11835 - 11860

IF Nifty spot manages to get a close / sustain above 11900 then ,

long again for 11920 - 12000 - 12080

Short below 11670 , Tgt 11640 - 11615 - 11580

IF Nifty spot manages to get a close / sustain below 11550 then, 

short again for 11525 - 11450 - 11370


P.S. Always wait for the yellow highlighted levels to be crossed after taking a long/short position for confirmation of the trade . Once the highlighted levels are crossed and the next target is achieved move your Stoploss to the highlighted levels and keep trailing your stoploss .

If you want to see the post in your Inbox , kindly register by adding your email id in  the 'Subscribe to my posts' section on the top right side of the blog.

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.

Thursday, 20 June 2019

Bank Nifty Spot Outlook for 21st Jun

BANK NIFTY


In the previous session Bank Nifty spot opened at 30390.20, made a low of 30220.70, it made a high of 30824.55 ,  before closing nearly flat at 30781.10

Had mentioned that long trade will get triggered for the day on sustaining above 30445 and short trade will get triggered for the day on sustaining below 30280. Bank Nifty initially triggered our short trade and completed just 1 targets and took our TSL. It then triggered our long trade and completed all our long targets doing 350+ points .


For the coming week :

Those who are looking to enter fresh longs should wait for Bank Nifty to sustain / close above 30925 and then enter for a initial target of 31250 - 31335 and look to hold further only on sustaining or getting a close above 31335 for the next targets of 31615 - 31925. 

&

Those who are looking to enter fresh short should wait for Bank Nifty to sustain / close below 30305 and then enter for a initial target of 29980 - 29895 and look to hold further only on sustaining or getting a close below 29895 for the next targets of 29615 - 29305.


Bank Nifty had triggered our weekly short trade but failed to sustain strongly and give a close below 30305 except for Monday and has now bounced back strongly to take our TSL.


For the month of June , longs will be confirmed in Bank Nifty with a consecutive close above 32160 for a initial target of 32995 - 33205 and sustaining / closing above it we can see a further move till 33920 - 34710 . Similarly Bank Nifty shorts will be confirmed with a consecutive close below 30590 for a initial target of 29755 - 29545 and sustaining / closing below it we can see a further move till 28830 - 28045.


Had mentioned in the previous post "Now on the downside Bank Nifty has immediate strong support near 30590 - 30490 which it needs to hold this week for a bounce else we might see the correction extend further 29755 - 29545." , and Bank Nifty confirmed our monthly shorts but has bounced back . Now we can see the upmove extend further on the back of short covering if Bank Nifty sustains strongly above 30925 - 31135 in the coming sessions. 


Now in the coming session Bank Nifty needs to break and sustain above 30880 to test 30980 - 31000 initially and sustaining above it we can see a further upmove till 31090 - 31190. Similarly breaking and sustaining below 30685 we can see a test of 30585 - 30560 initially and sustaining below it we can see a further correction till 30470 - 30375



Bank Nifty Spot Levels for the day are

Long above 30880 for 30935 - 31000 - 31190 , SL 30810

Short below 30685 for 30625 - 30560 - 30375 , SL 30755


If you want to see the post in your Inbox , kindly register by adding your email id in  the 'Subscribe to my posts' section on the top right side of the blog. Also please give your valuable feedback by selecting the appropriate reactions box at the bottom of the post.

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.