Sunday, 17 February 2019

Bank Nifty Spot Outlook for 18th Feb

BANK NIFTY


In the previous session Bank Nifty spot opened at 27017.20 and made a high of 27029.95,  it made a low of 26635.25,  before closing at 26794.25

Had mentioned that long trade for the day will get triggered on sustaining above 27015 and short trade for the day will get triggered on sustaining below 26925 .Bank Nifty today triggered our long trade but could not sustain . It then triggered our short trade and did 100 points . 

For this week Bank Nifty needs to break and sustain / close above 26910 to test 27035 - 27065 initially and above it we can see a test of 27170- 27285 . Similarly Bank Nifty needs to break and sustain / close below 26680 to test 26555 - 26525 initially and below it we can see a test of 26420 - 26300.  

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 26840 to test 26885 - 26895 initially and sustaining above it we can see a further upmove till 26935 - 26980. Similarly breaking and sustaining below 26750 we can see a test of 26705 - 26690 initially and sustaining below it we can see a further correction till 26655 - 26610.

Bank Nifty needs to hold 26755 on closing basis in the coming session for a bounce towards 27035 - 27065  initially.


Bank Nifty Spot Levels for the day are

Long above 26840 for 26865 - 26895 - 26980 , SL 26805

Short below 26750 for 26725 - 26690 - 26610 , SL 26780

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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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