Thursday, 16 November 2017

Bank Nifty Spot Outlook for 16th Nov

BANK NIFTY


Bank Nifty spot opened at 25241.65 ,made a high  of 25318.05 ,  it made a low of 25166.35 ,   before closing at 25218.90. 

Had mentioned that long positions can be taken above 25345 for the day and short positions can be taken below 25225.  Bank Nifty today triggered our short trade and completed just 1 target .  Bank Nifty had confirmed our weekly short trade in the previous session and today nearly completed our 3rd short target for the week . 


Had mentioned in the previous post " Now in the coming session Bank Nifty breaking and sustaining below 25225  can test 25160 - 25145 and on sustaining below it we can see a further test of 25090 - 25035 next. Similarly in the coming session Bank Nifty breaking and sustaining above 25345 we can see a test of 25410 - 25425 initially and breaking and sustaining above it we can see a further move till 25475 - 25535 next . " , and today Bank Nifty made a low of 25166.35 just above our initial support zone .


Now in the coming session Bank Nifty breaking and sustaining below 25160 can test 25095 - 25080 and on sustaining below it we can see a further correction till 25025 - 24965 next. Similarly in the coming session Bank Nifty breaking and sustaining above 25280 we can see a test of 25340 - 25355 initially and breaking and sustaining above it we can see a further move till 25410 - 25470 next . 


Bank Nifty Spot Levels for the day are

Long above 25280 for 25315 
– 25360 – 25470 , SL 25200

Short below 25160 for 25125 – 25080 – 24965 , SL 25240

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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.