Bank Nifty Spot Outlook for 20th Nov

BANK NIFTY

Bank Nifty spot opened at 25875.70 ,made a high  of 25924.90 ,  it made a low of 25679.55 ,   before closing at 25728.40 . 

Had mentioned that long positions can be taken above 25510 for the day and short positions can be taken below 25385.  Bank Nifty today opened above our last long target and did not give a chance to enter the long trade . 

Had mentioned in the previous post " Now in the coming session Bank Nifty breaking and sustaining below 25385  can test 25320 - 25305 and on sustaining below it we can see a further test of 25250 - 25190 next. Similarly in the coming session Bank Nifty breaking and sustaining above 25510 we can see a test of 25570 - 25585 initially and breaking and sustaining above it we can see a further move till 25640 - 25700 next . " , and today Bank Nifty made a high of 25924.90 after opening above our next resistance zone on the back of India's credit rating upgrade by Moody's . 

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 correction till 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 . 

Bank Nifty Spot Levels for the day are

Long above 25800 for 25840 – 25890 – 26025 , SL 25705

Short below 25655 for 25615 – 25565 – 25430 , SL 25750

If you want to see the post in your Inbox , kindly register by adding your email id in  the 'Subscribe to my posts' section on the top right side of the blog. Also please give your valuable feedback by selecting the appropriate reactions box at the bottom of the post.

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.