Tuesday, 21 November 2017

Bank Nifty Spot Outlook for 22nd Nov

BANK NIFTY


Bank Nifty spot opened at 25829.30 ,made a high  of 25871.10 ,  it made a low of 25726.50 ,   before closing at 25757.50 . 

Had mentioned that long positions can be taken above 25830 for the day and short positions can be taken below 25710.  Bank Nifty triggered our long trade but completed only 1 target for the day . Bank Nifty has to break and sustain / close above 25915 for a further upmove this week .


Had mentioned in the previous post " 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 test of 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 . " , and today Bank Nifty made a high of 25871.10 and did not even test the initial resistance zone of the day . 


Now in the coming session Bank Nifty breaking and sustaining below 25700 can test 25645 - 25630 and on sustaining below it we can see a further correction till 25580 - 25525 next. Similarly in the coming session Bank Nifty breaking and sustaining above 25815 we can see a test of 25870 - 25885 initially and breaking and sustaining above it we can see a further move till 25935 - 25990 next . 


Bank Nifty Spot Levels for the day are

Long above 25815 for 25845 
– 25885 – 25990 , SL 25740

Short below 25700 for 25670 – 25630 – 25525 , SL 25775

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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.