Bank Nifty Spot Outlook for 07th Nov

BANK NIFTY

Bank Nifty spot opened at 25569 ,made a low of 25529.50 ,  it made a high of 25694.60,   before closing at 25571.15. 

Had mentioned that long positions can be taken above 25765 for the day and short positions can be taken below 25535 .  Bank Nifty triggered our short trade and reversed immediately without sustaining below it . 

Had mentioned in the previous post " Now in the coming session Bank Nifty breaking and sustaining below 25535  can test 25415 - 25385 and on sustaining below it we can see a further test of 25285 - 25170 next. Similarly in the coming session Bank Nifty breaking and sustaining above 25765 we can see a test of 25885 - 25915 initially and breaking and sustaining above it we can see a further move till 26020 - 26130 next . " , and today Bank Nifty made a low of 25529.50 just below our trigger level of 25535 but failed to sustain and reversed to make a high of 25694.60 . 

Now in the coming session Bank Nifty breaking and sustaining below 25455 can test 25330 - 25300 and on sustaining below it we can see a further correction till 25190 - 25075 next. Similarly in the coming session Bank Nifty breaking and sustaining above 25690 we can see a test of 25815 - 25845 initially and breaking and sustaining above it we can see a further move till 25950 - 26070 next . 

Bank Nifty Spot Levels for the day are

Long above 25690 for 25760 – 25845 – 26070 , SL 25535

Short below 25455  for 25380 – 25300 – 25075 , SL 25605

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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.