Monday, 25 February 2019

Bank Nifty Spot Outlook for 26th Feb

BANK NIFTY


In the previous session Bank Nifty spot opened at 26934.20 and made a low of 26932.65,  it made a high of 27197.10,  before closing at 27159.25

Had mentioned that long trade for the day will get triggered on sustaining above 26930 and short trade for the day will get triggered on sustaining below 26805 .Bank Nifty triggered our long trade and did 150 points . 

Had mentioned " 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." , and Bank Nifty triggered our weekly long trade and tested our initial target of 27195 - 27240 with a high of 27197.10. Now it needs to sustain above 27240 to test 27385 - 27540 .

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 had confirmed our monthly short trade and today took our stoploss . 

Now in the coming session Bank Nifty needs to break and sustain above 27230 to test 27295 - 27315 initially and sustaining above it we can see a further upmove till 27375 - 27445. Similarly breaking and sustaining below 27090 we can see a test of 27020 - 27000 initially and sustaining below it we can see a further correction till 26940 - 26875. 

Bank Nifty needs to break and sustain above 27240 to make a move towards 27385 - 27540. Breaking and sustaining below 26775 we can see a move back towards 26675 - 26650 initially 


Bank Nifty Spot Levels for the day are

Long above 27230 for 27270 - 27315 - 27445 , SL 27180

Short below 27090 for 27050 - 27000 - 26875 , SL 27140

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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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