Tuesday, 3 November 2015

Outlook for 03rd November

Nifty spot opened gap down at 8065.80 and finally closed at 8050.80 after making a low of 7996.95 . We had mentioned Nifty lower range for October expiry at 8098 and Nifty had made a low of 8098. November series has started on the downside and today Nifty spot  went below 8000 after 01st October after a gap of 19 days before recovering.  

Bank Nifty spot opened at 17354.50 and closed at 17340.60 after making a low of  17214.30. We had mentioned in our weekly outlook for Bank Nifty spot in last week posted on 24th October that one can take short positions in the range 18055 -18130 , those who would have taken positions would have got good returns.

Levels for tomorrow are

Nifty Spot

Long above 8058 for 8071 - 8082 - 8100

Short below 8041 for 8030 - 8019 - 8001

Bank Nifty Spot

Long above 17382 for 17428 – 17496 – 17624

Short below 17299 for 17253 – 17185 – 17058

P.S. : I might not be able to post regularly for a few days as I am travelling and might not get internet connectivity at times . Will keep updating whenever in good network. 

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Disclaimer : These are my personal views and trades taken on them should be done with a strict Stop loss .