Thursday, 9 November 2017

Bank Nifty Spot Outlook for 10th Nov

BANK NIFTY


Bank Nifty spot opened at 25281 ,made a high of 25385.20 ,  it made a low of 25166.15 ,   before closing at 25291.35. 

Had mentioned that long positions can be taken above 25270 for the day and short positions can be taken below 25100 .  Bank Nifty today triggered our long trade and completed 2 targets .  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   . Those who are looking to go long should keep a cbsl of 24935 spot .


Had mentioned in the previous post " 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 test of 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 . " , and today Bank Nifty made a high of 25385.20 just above our initial resistance zone  . 


Now in the coming session Bank Nifty breaking and sustaining below 25210 can test 25130 - 25110 and on sustaining below it we can see a further correction till 25035 - 24960 next. Similarly in the coming session Bank Nifty breaking and sustaining above 25370 we can see a test of 25455 - 25475 initially and breaking and sustaining above it we can see a further move till 25545 - 25625 next . 


Bank Nifty Spot Levels for the day are

Long above 25370 for 25420 
– 25475 – 25625 , SL 25265

Short below 25210 for 25165 – 25110 – 24960 , SL 25315

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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.