Thursday, 10 October 2019

Bank Nifty Spot for 11th Oct

BANK NIFTY


In the previous session Bank Nifty spot opened at 28542.95, made a high of 28552.75,  made a low of 27914.15 before closing at 28013.45

Had mentioned that long trade will get triggered for the day on sustaining above 28995 and short trade will get triggered for the day on sustaining below 28575. Bank Nifty triggered our short trade and completed all targets giving 650+ points

For this week :

Those who are looking to enter fresh longs should wait for Bank Nifty to sustain / close above 28390 and then enter for a initial target of 29085 - 29260 and look to hold further only on sustaining or getting a close above 29260 for the next targets of 29860 - 30520. 

&

Those who are looking to enter fresh short should wait for Bank Nifty to sustain / close below 27075 and then enter for a initial target of 26380 - 26200 and look to hold further only on sustaining or getting a close below 26200 for the next targets of 25600 - 24950.

Bank Nifty had triggered our weekly long trade in the previous sessions and those who have entered should exit if Bank Nifty is unable to sustain above 28225 in the coming session. 



For the month of October , longs will be confirmed in Bank Nifty with a consecutive close above 32145 for a initial target of 34415 - 34985 and sustaining / closing above 34985 we can see a further move till 36935 - 39080 . Similarly Bank Nifty shorts will be confirmed with a consecutive close below 27860 for a initial target of 25590 - 25020 and sustaining / closing below 25020 we can see a further move till 23070 - 20925.


Bank Nifty has immediate resistance at 29220- 29270 and it needs to sustain above it in the coming sessions for a stronger move .

On the downside Bank Nifty has immediate support near 27880 - 27800 and it needs to hold this for the upmove to show strength. 




Now in the coming session Bank Nifty needs to break and sustain above 28225 to test 28445 - 28505 initially and sustaining above it we can see a further upmove till 28695 - 28905. Similarly breaking and sustaining below 27800 we can see a test of 27580 - 27525 initially and sustaining below it we can see a further correction till 27330 - 27120



Bank Nifty Spot Levels for the day are

Long above 28225 for 28355 - 28505 - 28905 , SL 28080

Short below 27800 for 27670 - 27525 - 27120 , SL 27950

Telegram Channel will be active from October for live trades under the name of Simply Trade . Those who wish to join can click on this link and open it with telegram https://t.me/simplytradestocks

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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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