BANK NIFTY WEEKLY OUTLOOK FOR 19 TO 22 FEBRUARY 2018

BANK NIFTY WEEKLY UPDATE

BANK Nifty opened at 25475.10 , it made a high of 25590 , it made a low of 25128 , before closing at 25200

Had mentioned that SHORT positions for the day can be taken above 25280 and LONG positions can be taken below 25600. BANK Nifty triggered our SHORT trade for the day and completed 2 targets  . As mentioned in the previous post " Now this week Nifty has to sustain / close BELOW 25280 to test 24900 - 24800 initially and BELOW it till 24650-24500 next . For a further UPmove this week BANK  Nifty has to sustain / close ABOVE 25500 to test 25650 - 25700 initially and ABOVE it till 25900-26000 next . ", today BANK Nifty sustained and traded above 25700 for the most part of the day but closed marginally lower . 

Had mentioned in the previous post " Now in the coming session BANK  Nifty needs to break and sustain BELOW 25280 to test 24900-24800 initially and sustaining BELOW it we can see a further DOWNmove till 24650 - 24500.

For the month of February BANK Nifty 26500 has triggered our monthly shorts  for a initial target of 24900-24800and breaking and sustaining below it we can see a further test of 24650 - 243000 . Monthly longs will get confirmed with a consecutive close above 26500 for a initial target of 27000- 27300 and breaking and sustaining ABOVE it we can see a further test of  27500 . 

Now in the coming session BANK Nifty needs to break and sustain BELOW 24900 to test 24700 - 24500 initiallY  Similarly breaking and sustaining ABOVE 25300 we can see a test of 25700 - 25800 initially .

                         Long above 25300 for 25550 - 25700 - 25925 , SL 25150

                        Short below 25100 for 24900 - 24700 - 24500 , SL 25250

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