Thursday, 2 November 2017

Bank Nifty Spot Outlook for 02nd Nov

BANK NIFTY


Bank Nifty spot opened at 25197.30 ,made a low of 25171.75 ,  it made a high of 25549.35,   before closing at 25490.45. 

Had mentioned that long positions can be taken above 25145 for the day and short positions can be taken below 24895 .  Bank Nifty triggered our long trade for the day and completed all our long targets . It also triggered our weekly long trade and completed 3 long targets for the week . Now Bank Nifty needs to sustain above 25600 for a further upmove in the coming sessions.


Had mentioned in the previous post " 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 test of 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 - 25500 next . " , and today Bank Nifty made a high of 25549.35 and completed our last target . 


Now in the coming session Bank Nifty breaking and sustaining below 25365 can test 25235 - 25200 and on sustaining below it we can see a further correction till 25085 - 24960 next. Similarly in the coming session Bank Nifty breaking and sustaining above 25615 we can see a test of 25750 - 25780 initially and breaking and sustaining above it we can see a further move till 25895 - 26020 next . 


Bank Nifty Spot Levels for the day are

Long above 25615 for 25695 
– 25780 – 26020 , SL 25450

Short below 25365  for 25290 – 25200 – 24960 , SL 25530

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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.