Monday, 20 November 2017

Bank Nifty Spot Outlook for 21st Nov

BANK NIFTY


Bank Nifty spot opened at 25733.70 ,made a low  of 25681.70 ,  it made a high of 25803.15 ,   before closing at 25768.60 . 

Had mentioned that long positions can be taken above 25800 for the day and short positions can be taken below 25655.  Bank Nifty for nearly the entire session traded between our long and short trigger range , barely breaking above our long trigger towards the end . 


Had mentioned in the previous post " Now in the coming session Bank Nifty breaking and sustaining below 25655  can test 25585 - 25565 and on sustaining below it we can see a further test of 25500 - 25430 next. Similarly in the coming session Bank Nifty breaking and sustaining above 25800 we can see a test of 25875 - 25890 initially and breaking and sustaining above it we can see a further move till 25955 - 26025 next . " , and today Bank Nifty traded the entire day nearly between our long and short trigger and towards the end end made a high of 25803.15 but did not sustain above it . 


Now in the coming session Bank Nifty breaking and sustaining below 25710 can test 25650 - 25630 and on sustaining below it we can see a further correction till 25580 - 25520 next. Similarly in the coming session Bank Nifty breaking and sustaining above 25830 we can see a test of 25890 - 25905 initially and breaking and sustaining above it we can see a further move till 25960 - 26015 next . 


Bank Nifty Spot Levels for the day are

Long above 25830 for 25865 
– 25905 – 26015 , SL 25750

Short below 25710 for 25675 – 25630 – 25520 , SL 25790

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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.