Bank Nifty Spot Outlook for 31st Oct

BANK NIFTY

Bank Nifty spot opened at 24873.65 ,made a low of 24808.55 ,  it made a high of 25064.85,   before closing at 24988.55 . 

Had mentioned that long positions can be taken above 24965 for the day and short positions can be taken below 24715 .  Bank Nifty triggered our long trade and completed just 1 target for the day . 

Had mentioned in the previous post " Now in the coming session Bank Nifty breaking and sustaining below 24715  can test 24585 - 24550 and on sustaining below it we can see a further test of 24440 - 24315 next. Similarly in the coming session Bank Nifty breaking and sustaining above 24965 we can see a test of 25095 - 25125 initially and breaking and sustaining above it we can see a further move till 25240 - 25365 next . " , and today Bank Nifty made a high of 25064.85 well below our initial resistance zone of 25095 - 25125 . 

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 correction till 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 . 

Bank Nifty Spot Levels for the day are

Long above 25115 for 25190 – 25280 – 25520 , SL 24950

Short below 24865 for 24785 – 24700 – 24460 , SL 25030

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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.