Thursday, 2 November 2017

Bank Nifty Spot Outlook for 03rd Nov

BANK NIFTY


Bank Nifty spot opened at 25508.40 ,made a high of 25598.75 ,  it made a low of 25405.50,   before closing at 25427.30. 

Had mentioned that long positions can be taken above 25615 for the day and short positions can be taken below 25365 .  Bank Nifty traded in a narrow consolidation range the entire session between our long and short trigger levels . It has 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 25365  can test 25235 - 25200 and on sustaining below it we can see a further test of 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 . " , and today Bank Nifty consolidated between our long and short trigger levels the entire session . 


Now in the coming session Bank Nifty breaking and sustaining below 25315 can test 25195 - 25165 and on sustaining below it we can see a further correction till 25060 - 24950 next. Similarly in the coming session Bank Nifty breaking and sustaining above 25540 we can see a test of 25660 - 25690 initially and breaking and sustaining above it we can see a further move till 25790 - 25900 next . 


Bank Nifty Spot Levels for the day are

Long above 25540 for 25610 
– 25690 – 25900 , SL 25390

Short below 25315  for 25245 – 25165 – 24950 , SL 25465

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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.