Thursday, 23 November 2017

Bank Nifty Spot Outlook for 24th Nov

BANK NIFTY


Bank Nifty spot opened at 25826.30 ,made a high  of 25838.55,  it made a low of 25620.95 ,   before closing at 25736.25 . 

Had mentioned that long positions can be taken above 25825 for the day and short positions can be taken below 25710.  Bank Nifty initially triggered our long trade but did not complete any target . Bank Nifty then triggered our short trade and completed 2 targets  . Bank Nifty has to break and sustain / close above 25915 for a further upmove this week and so far it has not managed to do it .


Had mentioned in the previous post " 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 test of 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 . " , and today Bank Nifty made a low of 25620.95 just below our initial support zone for the day .


Now in the coming session Bank Nifty breaking and sustaining below 25685 can test 25630 - 25620 and on sustaining below it we can see a further correction till 25570 - 25520 next. Similarly in the coming session Bank Nifty breaking and sustaining above 25785 we can see a test of 25840 - 25855 initially and breaking and sustaining above it we can see a further move till 25900 - 25950 next . 


Bank Nifty Spot Levels for the day are

Long above 25785 for 25820 
– 25855 – 25950 , SL 25720

Short below 25685 for 25655 – 25620 – 25520 , SL 25755

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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.