Wednesday, 4 November 2015

Outlook for 5th November

Nifty spot opened gap up at 8104.90 and finally closed at 8040.20 near the day's low of 8027.30 after making a high of 8116 at opening . Nifty after opening gap up could not sustain above 8100 and the gap up got sold indicating good resistance near 8120 zone

Bank Nifty spot opened at 17449 and closed at 17221 after making a low of  17175.65. Bank Nifty is having good resistance near 17500  zone and bulls will need to give consecutive close above it for any further upmove 

Levels for tomorrow are

Nifty Spot

Long above 8047  for 8055 - 8066 - 8088

Short below 8033 for 8025 - 8013 - 7992

Bank Nifty Spot

Long above 17261 for 17310 – 17375 – 17501

Short below 17180 for 17134 – 17065 – 16940

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 .