Monday, 14 January 2019

Bank Nifty Spot Outlook for 15th Jan

BANK NIFTY


In the previous session Bank Nifty spot opened at 27389.20 and made a high of 27389.80,  it then made a low of 27182.20,  before closing at 27248.25.

Had mentioned that long trade for the day will get triggered on sustaining above 27530 and short trade for the day will get triggered on sustaining below 27380 .Bank Nifty triggered our short trade and did 200 points .

As mentioned " 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." , and Bank Nifty has triggered our weekly short trade with a borderline close below 27255 . Now in the coming session it needs to sustain below 27255 for a test of 27050 - 27000 else breaking and sustaining / closing above 27395 we can see a move towards our weekly long trigger. 

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 27320 to test 27400 - 27420 initially and sustaining above it we can see a further upmove till 27485 - 27560. Similarly breaking and sustaining below 27175 we can see a test of 27100 - 27080 initially and sustaining below it we can see a further correction till 27015 - 26940.


Bank Nifty Spot Levels for the day are

Long above 27320  for 27365 - 27420 - 27560 , SL 27270

Short below 27175 for 27130 - 27080 - 26940 , SL 27225

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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.