Sunday, 24 February 2019

Bank Nifty Spot Outlook for 25th Feb

BANK NIFTY


In the previous session Bank Nifty spot opened at 26960.05 and made a high of 26997.35,  it made a low of 26847.80,  before closing at 26867.55

Had mentioned that long trade for the day will get triggered on sustaining above 27110 and short trade for the day will get triggered on sustaining below 26995 .Bank Nifty triggered our short trade and did close to 150 points . 

For this week Bank Nifty needs to break and sustain / close above 27030 to test 27195 - 27240 initially and above it we can see a test of 27385 - 27540 . Similarly Bank Nifty needs to break and sustain / close below 26705 to test 26540 - 26495 initially and below it we can see a test of 26355 - 26195. 

Also as mentioned " 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." , and Bank Nifty has confirmed our monthly short trade and now has sustaining below 26755 to test of 26185 - 26040 .Those who are looking to go short in the coming week on upmove should keep a stoploss of 27130.

Now in the coming session Bank Nifty needs to break and sustain above 26930 to test 26990 - 27010 initially and sustaining above it we can see a further upmove till 27065 - 27125. Similarly breaking and sustaining below 26805 we can see a test of 26745 - 26725 initially and sustaining below it we can see a further correction till 26675 - 26615. 

Bank Nifty needs to break and sustain above 27030 to make a move towards 27195 - 27240. Breaking and sustaining below 26755 we can see a move back towards 26590 - 26420 initially 


Bank Nifty Spot Levels for the day are

Long above 26930 for 26965 - 27010 - 27125 , SL 26885

Short below 26805 for 26770 - 26725 - 26615 , SL 26850

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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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