Sunday, 10 February 2019

Bank Nifty Spot Outlook for 11th Feb

BANK NIFTY


In the previous session Bank Nifty spot opened at 27302.65 and made a high of 27482.10,  it made a low of 27221.25,  before closing at 27294.40

Had mentioned that long trade for the day will get triggered on sustaining above 27485 and short trade for the day will get triggered on sustaining below 27290 .Bank Nifty triggered our short trade and did 70 points . 

For this week Bank Nifty needs to break and sustain / close above 27490 to test 27700 - 27750 initially and above it we can see a test of 27930- 28125 . Similarly Bank Nifty needs to break and sustain / close below 27100 to test 26890 - 26840 initially and below it we can see a test of 26660 - 26465. 

Now Bank Nifty needs to hold 26820 - 26755 in the coming session for a pullback to happen. 

For the month of February , longs will get confirmed with a consecutive close above 27835 for a initial target of 28410 - 28550 and sustaining / closing above it we can see a further test of 29045 - 29585 . Similarly , shorts will get confirmed with a consecutive close below  26755 for a initial target of 26185 - 26040 and sustaining / closing below it we can see a further move till 25550 - 25010.

Now in the coming session Bank Nifty needs to break and sustain above 27370 to test 27445 - 27465 initially and sustaining above it we can see a further upmove till 27535 - 27605. Similarly breaking and sustaining below 27220 we can see a test of 27140 - 27120 initially and sustaining below it we can see a further correction till 27055 - 26980 


Bank Nifty Spot Levels for the day are

Long above 27370 for 27415 - 27465 - 27605 , SL 27315

Short below 27220 for 27175 - 27120 - 26980 , SL 27275

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.

No comments:

Post a Comment