Bank Nifty Spot Outlook for 12th Nov

BANK NIFTY

In the previous session Bank Nifty spot opened at 25730.90, made a high of 25821.80,  made a low of 25604.75,  before closing at 25771 .

Now in this week Bank Nifty needs to break and sustain / close above 26005 to test 26250 - 26315 initially and above it we can see a test of 26525 - 26760 . Similarly Bank Nifty needs to break and sustain / close below 25535 to test 25290 - 25230 initially and below it we can see a test of 25015 - 24785.

For the month of November , further longs will get confirmed with a consecutive close above 25850 for a initial target of 26355 - 26515 and sustaining / closing above it we can see a further test of 27045 - 27630 . Similarly , shorts will get confirmed with a consecutive close below  24570 for a initial target of 23950 - 23795 and sustaining / closing below it we can see a further move till 23265 - 22680 . 

Now in the coming session Bank Nifty needs to break and sustain above 25860 to test 25955 - 25975 initially and sustaining above it we can see a further upmove till 26055 - 26145. Similarly breaking and sustaining below 25680 we can see a test of 25590 - 25565 initially and sustaining below it we can see a further correction till 25485 - 25395.

Bank Nifty Spot Levels for the day are

Long above 25860 for 25915 - 25975 - 26145 , SL 25795

Short below 25680 for 25630 - 25565 - 25395 , SL 25745

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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.