Wednesday, 8 November 2017

Bank Nifty Spot Outlook for 09th Nov

BANK NIFTY


Bank Nifty spot opened at 25375.80 ,made a high of 25435.60 ,  it made a low of 25119.50,   before closing at 25184.35. 

Had mentioned that long positions can be taken above 25380 for the day and short positions can be taken below 25220 .  Bank Nifty initially triggered our long trade and completed just 1 target and took our TSL . Bank Nifty then triggered our short trade and missed our 2nd short target for the day by 9 points.  Bank Nifty had also triggered our weekly short trade in the previous session and today completed 3 weekly short targets . Bank Nifty has some support near 25025 - 24935 zone which needs to be broken and sustained in the coming sessions for a further correction till 24680 - 24380  . 


Had mentioned in the previous post " Now in the coming session Bank Nifty breaking and sustaining below 25220  can test 25135 - 25110 and on sustaining below it we can see a further test of 25040 - 24960 next. Similarly in the coming session Bank Nifty breaking and sustaining above 25380 we can see a test of 25465 - 25490 initially and breaking and sustaining above it we can see a further move till 25560 - 25645 next . " , and today Bank Nifty made a low of 25119.50 within our immediate support zone . 


Now in the coming session Bank Nifty breaking and sustaining below 25100 can test 25015 - 24995 and on sustaining below it we can see a further correction till 24915 - 24835 next. Similarly in the coming session Bank Nifty breaking and sustaining above 25270 we can see a test of 25355 - 25375 initially and breaking and sustaining above it we can see a further move till 25450 - 25535 next . 


Bank Nifty Spot Levels for the day are

Long above 25270 for 25320 
– 25375 – 25535 , SL 25160

Short below 25100  for 25050 – 24995 – 24835 , SL 25210

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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.