Sunday, 13 January 2019

Bank Nifty Spot Outlook for 14th Jan

BANK NIFTY


In the previous session Bank Nifty spot opened at 27602.80 and made a high of 27612.45,  it then made a low of 27382.45,  before closing at 27453.90.

Had mentioned that long trade for the day will get triggered on sustaining above 27600 and short trade for the day will get triggered on sustaining below 27455 .Bank Nifty initially triggered our long trade but did not sustain and took our stoploss . It then triggered our short trade and did just 70 points .

For this week Bank Nifty needs to break and sustain / close above 27650 to test 27860 - 27910 initially and above it we can see a test of 28090 - 28285 . Similarly Bank Nifty needs to break and sustain / close below 27255 to test 27050 - 27000 initially and below it we can see a test of 26820 - 26625. 

Also as mentioned " For the month of January , longs will get confirmed with a consecutive close above 27290 for a initial target of 27725 - 27835 and sustaining / closing above it we can see a further test of 28210 - 28620 . Similarly , shorts will get confirmed with a consecutive close below  26465 for a initial target of 26035 - 25925 and sustaining / closing below it we can see a further move till 25550 - 25135." , and Bank Nifty today made a high of 27754.25 testing our initial targets of 27725 - 27835 after confirming our monthly long trade. Now in the coming session Bank Nifty needs to sustain / close above 27835 to move towards our next targets .

Now in the coming session Bank Nifty needs to break and sustain above 27530 to test 27605 - 27625 initially and sustaining above it we can see a further upmove till 27695 - 27770. Similarly breaking and sustaining below 27380 we can see a test of 27300 - 27280 initially and sustaining below it we can see a further correction till 27215 - 27140 .


Bank Nifty Spot Levels for the day are

Long above 27530  for 27575 - 27625 - 27770 , SL 27475

Short below 27380 for 27335 - 27280 - 27140 , SL 27435

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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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