Wednesday, 27 February 2019

Bank Nifty Spot Outlook for 28th Feb

BANK NIFTY


In the previous session Bank Nifty spot opened at 27078.10 and made a high of 27189.45,  it made a high of 26719.40,  before closing at 26799.30

Had mentioned that long trade for the day will get triggered on sustaining above 27025 and short trade for the day will get triggered on sustaining below 26880 .Bank Nifty triggered our long trade at opening and did 100 points . Post that based on the news flow it began correcting and triggered our short trade and did 150 points . Bank Nifty once again took support just above our weekly short trigger level of 26705 and bounced to close around 26800 .

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 and today nearly tested our initial target of 27195 - 27240 with a high of 27189.45. 

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 26870 to test 26945 - 26965 initially and sustaining above it we can see a further upmove till 27030 - 27100. Similarly breaking and sustaining below 26730 we can see a test of 26655 - 26635 initially and sustaining below it we can see a further correction till 26570 - 26500. 

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 26870 for 26915 - 26965 - 27100 , SL 26820

Short below 26730 for 26685 - 26635 - 26500 , 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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