Bank Nifty Today September 19th 2017: Today was an overall a range bound session as bank nifty opened 13 points in the green and moved lower to reach the intraday lows of 24,993.00 by 10.45 PM.
Bank nifty was able to take support near 25,000 levels to move higher to cross 25,100 to record the intraday high of 25,103.45.Finally bank nifty closed at 25,041.55 by losing 5 points.
Only 5 of the 12 bank nifty stocks closed in the green. Canara Bank is the top loser by losing 1.30% and Federal Bank is the top gainer by gaining 1.93%.
19th Sep 2017 Intraday Movement:
Opening: 25,059.75; High: 25,103.45 Low: 24,993.00
28 Sep 2017 Expiry Bank Nifty Futures: 25,060.50(+3.60)
Bank Nifty Support and Resistance for tomorrow 20th Sep 2017:
Bank nifty as a strong support 25,000 and 24,920 and resistance are placed at 25,200.
Bank Nifty Forecast/Outlook for 20th Sep 2017:
Today’s movement in the bank nifty shows a spinning top pattern in the charts which means opening and closing price are near and suggesting indecisiveness among bulls and bears at the top of the uptrend.
Notable action of the day, the bank nifty was able to defend and hold to 25,000 levels and facing resistance near 25,100 levels.
After Monday’s break away gap bank nifty was able to sustain the move which shows the strength in the market. Bank nifty can move towards 25,500 levels in the come days.
Short term traders can build long positions for an initial target of 25,500 with a stop around 24,900 levels.
As said for the past few days Bank nifty is showing strength compared to nifty so one can go long in bank nifty and short nifty.
Bank Nifty Target for tomorrow: On the upside bank nifty can hit 25,200 levels and on the downside 25,000 levels are possible.
What are the negatives for bank nifty?
FII’s are sellers in the market and finding resistance near the all-time high levels 25,150-25200.
What are the positives for bank nifty?
Long term UP trend and bank nifty having strong support near 50-Day EMA placed at 24,280 and also above 5-Day, 13-day and 20-Day EMA which are 24,920, 24,700 and 24,650 levels respectively will be supporting as well.
Bank Nifty Trend for Wednesday: We can expect a consolidation after the breakaway move.
Bank Nifty Short Term trend: Up.
Bank Nifty trading range for 28th Sep 2017 Expiry: Bank Nifty can move between 23,500-25,600 levels.
Bank Nifty Long Term up trend reversal point: Closing below 23,800 Levels.
Nifty Strategies Performance:
|No of trades||Only 3|
|Total Points Gained||325 Points Gained|
|Total Profit||Rs 24,375|
Bank Nifty Sep 2017 Expiry Strategy:
- Position created on 11-Sep-2017 : Buy Bank nifty futures at 24,650 and sell nifty at 10,020 and hold for target of 6500 and stoploss of Rs 4000.Current Status : Gaining by Rs. 5256.25.Hold on to the positions
- For more free nifty strategy Click here!!!
Visit our website on 20th Sep 2017 8.30 PM to get the Bank nifty view for 21st Sep 2017.
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