Wednesday, 22 November 2017

Bank Nifty Spot Outlook for 23rd Nov

BANK NIFTY


Bank Nifty spot opened at 25805.65 ,made a high  of 25831.95 ,  it made a low of 25665.85 ,   before closing at 25766.65 . 

Had mentioned that long positions can be taken above 25815 for the day and short positions can be taken below 25700.  Bank Nifty initially triggered our long trade but did not complete any target and took our SL  . Bank Nifty then triggered our short trade and completed just 1 target . 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 25700  can test 25645 - 25630 and on sustaining below it we can see a further test of 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 . " , and today Bank Nifty made a low of 25665.85 just above our initial support zone for the day .


Now in the coming session Bank Nifty breaking and sustaining below 25710 can test 25655 - 25640 and on sustaining below it we can see a further correction till 25590 - 25535 next. Similarly in the coming session Bank Nifty breaking and sustaining above 25825 we can see a test of 25880 - 25895 initially and breaking and sustaining above it we can see a further move till 25945 - 26000 next . 


Bank Nifty Spot Levels for the day are

Long above 25825 for 25855 
– 25895 – 26000 , SL 25750

Short below 25710 for 25680 – 25640 – 25535 , SL 25785

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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.