Monday, 23 September 2019

Bank Nifty Spot Outlook for 24th Sep

BANK NIFTY


In the previous session Bank Nifty spot opened at 30039.40, made a low of 29776.30,  made a high of 30801.30 before closing at 30566.20

Had mentioned that long trade will get triggered for the day on sustaining above 29295 and short trade will get triggered for the day on sustaining below 28665. Bank Nifty triggered our long trade with a gap up and completed all targets. 


As mentioned previously,

For the coming week :

Those who are looking to enter fresh longs should wait for Bank Nifty to sustain / close above 29815 and then enter for a initial target of 30695 - 30915 and look to hold further only on sustaining or getting a close above 30915 for the next targets of 31675 - 32505. 

&

Those who are looking to enter fresh short should wait for Bank Nifty to sustain / close below 28150 and then enter for a initial target of 27270 - 27045 and look to hold further only on sustaining or getting a close below 27045 for the next targets of 26290 - 25460.

Bank Nifty triggered our weekly long trade and nearly completed our initial targets. Now in the coming session Bank Nifty has to sustain above 30915 for a further upmove towards our next targets. 


As mentioned previously,

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 confirmed our monthly long trade and completed our initial targets and also reached our next target zone with a high of 30801.30 . Now in the coming sessions Bank Nifty has to sustain above 30535 to make a move towards our last target of 31495. 


On the downside Bank Nifty has immediate support near 29660 - 29400 and it needs to hold these levels in a correction this week for the upmove to remain strong  . 


Now in the coming session Bank Nifty needs to break and sustain above 30940 to test 31335 - 31435 initially and sustaining above it we can see a further upmove till 31775 - 32145. Similarly breaking and sustaining below 30195 we can see a test of 29800 - 29700 initially and sustaining below it we can see a further correction till 29360 - 28990



Bank Nifty Spot Levels for the day are

Long above 30940 for 31170 - 31435 - 32145 , SL 30680

Short below 30195 for 29965 - 29700 - 28990 , SL 30450


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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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