Thursday, 14 February 2019

Bank Nifty Spot Outlook for 15th Feb

BANK NIFTY


In the previous session Bank Nifty spot opened at 26978 and made a high of 27030,  it made a low of 26818.05,  before closing at 26970.60

Had mentioned that long trade for the day will get triggered on sustaining above 26935 and short trade for the day will get triggered on sustaining below 26840 .Bank Nifty today triggered both our long and short trade taking our stoploss indicating indecisiveness. 

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 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 ." , and  Bank Nifty had completed our initial targets and today also made a low of 26818.05 .

Now Bank Nifty needs to hold 26840 in the coming session to expect a bounce back till 27100 - 27170. It has a strong support at 26760 and once below it we can see a test of the 26660 - 26465 next on the downside. 

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 27015 to test 27060 - 27070 initially and sustaining above it we can see a further upmove till 27110 - 27155. Similarly breaking and sustaining below 26925 we can see a test of 26880 - 26870 initially and sustaining below it we can see a further correction till 26830 - 26790


Bank Nifty Spot Levels for the day are

Long above 27015 for 27040 - 27070 - 27155 , SL 26985

Short below 26925 for 26900 - 26870 - 26790 , SL 26960

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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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