Thursday, 24 January 2019

Bank Nifty Spot Outlook for 25th Jan

BANK NIFTY


In the previous session Bank Nifty spot opened at 27273.50 and made a low of 27142.80,  it made a high of 27342.35,  before closing at 27266.40

Had mentioned that long trade for the day will get triggered on sustaining above 27300 and short trade for the day will get triggered on sustaining below 27200 .Bank Nifty initially triggered our short trade and did 2 targets giving 50 points . It then triggered our long trade but did only 40 points . 

As mentioned " For this week Bank Nifty needs to break and sustain / close above 27610 to test 27775 - 27815 initially and above it we can see a test of 27955 - 28105 . Similarly Bank Nifty needs to break and sustain / close below 27300 to test 27140 - 27100 initially and below it we can see a test of 26960 - 26805. " , and Bank Nifty had triggered our weekly short trade and tested our initial targets of 27140 - 27100 with a low of 27142.80 giving a good chance to book . Trailing cbsl was given in the previous session at 27360 for 27140 - 27100 and if not booked shorts then should exit on sustaining above 27360 - 27410 in the coming session.

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 had made a high of 27754.25 testing our initial targets of 27725 - 27835 after confirming our monthly long trade. Also as mentioned in the previous post " Today Bank Nifty closed below 27290 and sustaining below it we can see a test of 27140 -  27100 initially." and Bank Nifty made a low of 27142.80 today . 

Now in the coming session Bank Nifty needs to break and sustain above 27315 to test 27365 - 27375 initially and sustaining above it we can see a further upmove till 27420 - 27465. Similarly breaking and sustaining below 27220 we can see a test of 27170 - 27155 initially and sustaining below it we can see a further correction till 27115 - 27065.


Bank Nifty Spot Levels for the day are

Long above 27315  for 27345 - 27375 - 27465 , SL 27280

Short below 27220 for 27190 - 27155 - 27065 , SL 27255

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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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