Thursday, 19 November 2015

Outlook for 19th October

Nifty spot opened at 7823.15 made a high of 7843 and finally closed at 7731.8 after making a low of 7725.65.  A few days ago we had mentioned that 'If Nifty gives 2 consecutive close below 7730 then it can cause further correction till 7660 - 7540 in the days to come'. Today Nifty gave a borderline close at 7731.80 and any dip tomorrow will add further pressure on the down side . One can expect some good moves tommorow.

For tomorrow Nifty spot has resistance on the upside near 7746 - 7757 ,sustaining above 7776 is required to test 7805 - 7820 levels . Similarly breaking and sustaining below 7688 we can retest 7658 - 7644

Bank Nifty spot opened at 17108.90 and made a high of 17186.70 and closed at 16812.10 after making a low of 16787.55 . Today bank nifty saw good selling coming in and closed nearly 320 points lower . 

Levels for tomorrow are

Nifty Spot

Long above 7747 for 7762 - 7786 - 7820

Short below 7717 for 7700 - 7677 - 7632

Bank Nifty Spot

Long above 16855 for 16895 – 16962 – 17085

Short below 16770 for 16725 – 16660 – 16535

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