Monday, 11 February 2019

Bank Nifty Spot Outlook for 12th Feb

BANK NIFTY


In the previous session Bank Nifty spot opened at 27240.50 and made a high of 27305.90,  it made a low of 27151.55,  before closing at 27227.80

Had mentioned that long trade for the day will get triggered on sustaining above 27370 and short trade for the day will get triggered on sustaining below 27220 .Bank Nifty triggered our short trade and did 65 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 27100 - 26840 in the coming session to expect a bounce . 

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 27300 to test 27380 - 27400 initially and sustaining above it we can see a further upmove till 27465 - 27540. Similarly breaking and sustaining below 27155 we can see a test of 27075 - 27055 initially and sustaining below it we can see a further correction till 26990 - 26915 


Bank Nifty Spot Levels for the day are

Long above 27300 for 27345 - 27400 - 27540 , SL 27250

Short below 27155 for 27110 - 27055 - 26915 , SL 27205

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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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