Bank Nifty Spot Outlook for 06th Nov

BANK NIFTY

Bank Nifty spot opened at 25531.40 ,made a high of 25695.50 ,  it made a low of 25394.95,   before closing at 25650.70. 

Had mentioned that long positions can be taken above 25540 for the day and short positions can be taken below 25315 .  Bank Nifty triggered our long trade and completed 2 targets for the day . 

Had mentioned in the previous post " 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 test of 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 . " , and today Bank Nifty made a high of 25695.50 just above our initial resistance zone . 

Now in the coming session Bank Nifty breaking and sustaining below 25535 can test 25415 - 25385 and on sustaining below it we can see a further correction till 25285 - 25170 next. Similarly in the coming session Bank Nifty breaking and sustaining above 25765 we can see a test of 25885 - 25915 initially and breaking and sustaining above it we can see a further move till 26020 - 26130 next . 

Bank Nifty Spot Levels for the day are

Long above 25765 for 25835 – 25915 – 26130 , SL 25615

Short below 25535  for 25465 – 25385 – 25170 , SL 25685

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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.