Tuesday, 26 February 2019

Bank Nifty Spot Outlook for 27th Feb

BANK NIFTY


In the previous session Bank Nifty spot opened at 26853.80 and made a low of 26736.60,  it made a high of 27127.25,  before closing at 26952.95

Had mentioned that long trade for the day will get triggered on sustaining above 27230 and short trade for the day will get triggered on sustaining below 27090 .Bank Nifty triggered our short trade with a gap down near our last daily target and took support just above our weekly short trigger of 26705 and bounced. 

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 had triggered our weekly long trade we were looking forward to a test of our initial target of 27195 - 27240 but today we opened gap down .

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 27025 to test 27095 - 27115 initially and sustaining above it we can see a further upmove till 27180 - 27250. Similarly breaking and sustaining below 26880 we can see a test of 26810 - 26790 initially and sustaining below it we can see a further correction till 26725 - 26655. 

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 27025 for 27065 - 27115 - 27250 , SL 26975

Short below 26880 for 26840 - 26790 - 26655 , SL 26930

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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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