Thursday, 16 November 2017

Bank Nifty Spot Outlook for 17th Nov

BANK NIFTY


Bank Nifty spot opened at 25292.90 ,made a low  of 25273.70 ,  it made a high of 25496.05 ,   before closing at 25446.60 . 

Had mentioned that long positions can be taken above 25280 for the day and short positions can be taken below 25160.  Bank Nifty today triggered our long trade and completed all our target giving 190 points .   


Had mentioned in the previous post " 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 test of 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 . " , and today Bank Nifty made a high of 25496.05 just above our next resistance zone and also closed within it.


Now in the coming session Bank Nifty breaking and sustaining below 25385 can test 25320 - 25305 and on sustaining below it we can see a further correction till 25250 - 25190 next. Similarly in the coming session Bank Nifty breaking and sustaining above 25510 we can see a test of 25570 - 25585 initially and breaking and sustaining above it we can see a further move till 25640 - 25700 next . 


Bank Nifty Spot Levels for the day are

Long above 25510 for 25545 
– 25585 – 25700 , SL 25425

Short below 25385 for 25350 – 25305 – 25190 , 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.