Sunday, 30 June 2019

Bank Nifty Spot Outlook for 01st Jul

BANK NIFTY


In the previous session Bank Nifty spot opened at 31281.00, made a high of 31308.90, it made a low of 31060.60,  before closing at 31105.20

Had mentioned that long trade will get triggered for the day on sustaining above 31355 and short trade will get triggered for the day on sustaining below 31180. Bank Nifty  triggered our short trade and completed 2 targets  .



For the coming week :

Those who are looking to enter fresh longs should wait for Bank Nifty to sustain / close above 31300 and then enter for a initial target of 31505 - 31560 and look to hold further only on sustaining or getting a close above 31560 for the next targets of 31735 - 31930. 

&

Those who are looking to enter fresh short should wait for Bank Nifty to sustain / close below 30910 and then enter for a initial target of 30705 - 30655 and look to hold further only on sustaining or getting a close below 30655 for the next targets of 30475 - 30280.

For the coming week :

Those who are looking to enter fresh longs should wait for Bank Nifty to sustain / close above 31300 and then enter for a initial target of 31505 - 31560 and look to hold further only on sustaining or getting a close above 31560 for the next targets of 31735 - 31930. 

&

Those who are looking to enter fresh short should wait for Bank Nifty to sustain / close below 30910 and then enter for a initial target of 30705 - 30655 and look to hold further only on sustaining or getting a close below 30655 for the next targets of 30475 - 30280.


For the month of July , longs will be confirmed in Bank Nifty with a consecutive close above 31510 for a initial target of 31935 - 32040 and sustaining / closing above it we can see a further move till 32410 - 32810 . Similarly Bank Nifty shorts will be confirmed with a consecutive close below 30700 for a initial target of 30275 - 30170 and sustaining / closing below it we can see a further move till 29800 - 29400.


Now on the downside Bank Nifty has immediate strong support near 30790 - 30700 which it needs to hold on closing basis in a correction for a bounce . 



Now in the coming session Bank Nifty needs to break and sustain above 31180 to test 31255 - 31275 initially and sustaining above it we can see a further upmove till 31345 - 31415. Similarly breaking and sustaining below 31030 we can see a test of 30955 - 30935 initially and sustaining below it we can see a further correction till 30865 - 30795



Bank Nifty Spot Levels for the day are

Long above 31180 for 31225 - 31275 - 31415 , SL 31125

Short below 31030 for 30985 - 30935 - 30795 , SL 31085


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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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