Tuesday, 12 February 2019

Bank Nifty Spot Outlook for 13th Feb

BANK NIFTY


In the previous session Bank Nifty spot opened at 27166.90 and made a high of 27286.65,  it made a low of 26988.90,  before closing at 27010.75

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 27155 .Bank Nifty triggered our short trade and did 150+ points . 

Had mentioned " 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. " , and today Bank Nifty triggered our weekly short trade and those who are holding shorts should keep a stoploss of 27235 and look to book once near 26890 - 26840 .

Now Bank Nifty needs to hold 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 27085 to test 27165 - 27185 initially and sustaining above it we can see a further upmove till 27255 - 27335. Similarly breaking and sustaining below 26935 we can see a test of 26855 - 26835 initially and sustaining below it we can see a further correction till 26765 - 26690


Bank Nifty Spot Levels for the day are

Long above 27085 for 27135 - 27185 - 27335 , SL 27035

Short below 26935 for 26890 - 26835 - 26690 , SL 26990

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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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