Tuesday, 31 October 2017

Bank Nifty Spot Outlook for 01st Nov

BANK NIFTY


Bank Nifty spot opened at 25042.10 ,made a high of 25078.65 ,  it made a low of 24948.10,   before closing at 25019.35 . 

Had mentioned that long positions can be taken above 25115 for the day and short positions can be taken below 24865 .  Bank Nifty traded in a narrow range for the day between our long and short trigger zone  . 


Had mentioned in the previous post " Now in the coming session Bank Nifty breaking and sustaining below 24865  can test 24730 - 24700 and on sustaining below it we can see a further test of 24585 - 24460 next. Similarly in the coming session Bank Nifty breaking and sustaining above 25115 we can see a test of 25245 - 25280 initially and breaking and sustaining above it we can see a further move till 25395 - 25520 next . " , and today Bank Nifty consolidated the entire session between our long and short trigger zone .


Now in the coming session Bank Nifty breaking and sustaining below 24895 can test 24760 - 24730 and on sustaining below it we can see a further correction till 24615 - 24490 next. Similarly in the coming session Bank Nifty breaking and sustaining above 25145 we can see a test of 25275 - 25310 initially and breaking and sustaining above it we can see a further move till 25425 - 25550 next . 


Bank Nifty Spot Levels for the day are

Long above 25145 for 25220 
– 25310 – 25550 , SL 24980

Short below 24895 for 24820 – 24730 – 24490 , SL 25060

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Disclaimer : These are my personal views and one should do their own research before entering any trades based on them  . The use of the blog is agreement that the blog is for informational and educational purposes only and does not constitute advice in any form in the furtherance of any trade or trading decisions.