Tuesday, 10 September 2019

Bank Nifty Spot Outlook for 11th Sep

BANK NIFTY


In the previous session Bank Nifty spot opened at 27240.35 , made a low of 26993.90, it made a high of 27565.55  before closing at 27504.65

Had mentioned that long trade will get triggered for the day on sustaining above 27425 and short trade will get triggered for the day on sustaining below 27070. Bank Nifty initially triggered our short trade and did not complete any targets and took our stoploss. Bank Nifty then triggered our long trade and completed just 1 target.


For the coming week :

Those who are looking to enter fresh longs should wait for Bank Nifty to sustain / close above 27720 and then enter for a initial target of 28220 - 28345 and look to hold further only on sustaining or getting a close above 28345 for the next targets of 28775 - 29245. 

&

Those who are looking to enter fresh short should wait for Bank Nifty to sustain / close below 26775 and then enter for a initial target of 26275 - 26150 and look to hold further only on sustaining or getting a close below 26150 for the next targets of 25725 - 25250.



For the month of September , longs will be confirmed in Bank Nifty with a consecutive close above 28390 for a initial target of 29405 - 29660 and sustaining / closing above 29660 we can see a further move till 30535 - 31495 . Similarly Bank Nifty shorts will be confirmed with a consecutive close below 26465 for a initial target of 25450 - 25195 and sustaining / closing below 25195 we can see a further move till 24320 - 23360.


Bank Nifty has immediate resistance at 28030 - 28390 zone and it needs to give a consecutive close above it for a further upmove in the coming sessions.

On the downside Bank Nifty has immediate support near 26835 - 26465 and it needs to give a consecutive close below it for the correction to resume.


Now in the coming session Bank Nifty needs to break and sustain above 27635 to test 27775 - 27810 initially and sustaining above it we can see a further upmove till 27930 - 28060. Similarly breaking and sustaining below 27375 we can see a test of 27235 - 27200 initially and sustaining below it we can see a further correction till 27080 - 26950



Bank Nifty Spot Levels for the day are

Long above 27635 for 27715 - 27810 - 28060 , SL 27545

Short below 27375 for 27295 - 27200 - 26950 , SL 27465


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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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